In three months I have swing traded SNAP from 36,200 to 49,000 shares.

SNAP stock is under a lot of scrutiny and especially following the unveiling of the AR Specs glasses the stock took a massive hit.

I bought a lot of shares in March when it dipped below $4 for the first time in history. There’s been a lot of SBC’s ie share dilution over the years but nevertheless the market cap was lower than ever before back in March.

I sold all my shares when it touched $6 about a month ago and I just bought back in again at $4.6.

In truth I’ve been buying and selling a whole lot more times than that but it’s the gist of it. I don’t like being all cash so whenever I sold my shares I bought something else immediately after.

Is anybody else swing trading this stock and if so what’s your range? I plan to sell in the $5-5.5 range although in my experience it often goes straight to $6.

I also am tempted to hold for $7 which was its hard floor from 2019-2026. I don’t really see why it should trade for $4.6 now when for eight years it wouldn’t go lower than $7. I mean, I understand the reasons but to be honest all those reasons were there in the past many years also.

The biggest problem is their DAUs crashing in their most profitable region, North America which of course is a pretty serious problem but the flip side is it’s forces them to monetize their business more than they used to.