Where to buy the Snap stock dip: it has dropped by 56% in six months

by February 3, 2022

written by February 3, 2022

Tech companies and specifically social media giants have seen the prices of their shares drop in the past few months. Snap stock, for example, dropped by over 56% over six months.

There are however speculations that the Snap stock is oversold and the current dip could be nearing its end; giving way to a major bounce back.

To help stock investors interested in investing in Snap stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

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What is Snap stock?

Snap stock is the stock of Snap Inc. Social Media Company and it trades on the New York Stock Exchange under the ticker NYSE: SNAP.

Snap Inc. is an American camera and social media company based in California. It was started in September 2011.

Some of the popular products that Snap Inc. has developed include the famous Snapchat platform, Ritmoji, and Spectacles.

Should I buy the Facebook stock today?

If you want to invest in a stock dip, then Snap stock could be a good choice.

However, as you invest, you should be ready for any further drops since it is not crystal clear as to when the current dip shall come to an end.

Snap stock price prediction

The current price drop at the beginning of this month (February) seems to be eating into the previous gains in January after a five months drop.

Analysts expect the Snap stock price to remain bearish at least for the better part of January as more and more social media platforms come up and the completion increases.

$SNAP stock social media coverage

$FB down 20% after hours

Others down big today, including after hours:$SNAP down 25%$SPOT down 22%$PYPL down 27%$PINS down 20%$TWTR down 15%

Some major hits to major brands.

👀

— Chris Perruna (@cperruna) February 2, 2022

$SNAP was down 24% after hours on the back of those disappointing $FB earnings$SNAP is now back to the IPO price from March 2017 with the VWAP from the IPO at $24.66 — $SNAP got down to $25.11 after hours

I started positions after hours in $FB at $247 and $SNAP at $25.40 pic.twitter.com/4Fq3l9bSRA

— Jonah Lupton (@JonahLupton) February 2, 2022

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