Read this timely article about Snapchat yesterday and found it interesting. Wanted to share.
http://adventuresincapitalism.com/post/2017/07/09/SNAPageddon.aspx
SNAP is down ~8% today after lead underwriter Morgan Stanley downgraded the stock and slashed its price target by $12 to $16/share.
https://www.reuters.com/article/us-snap-morganstanley-downgrade-idUSKBN19W1HA
Those who short SNAP with puts may well wind up happy -- even after today's price decline.
Disclosure: No position in SNAP.