If you were like the other "suckers" including (myself) shhh... don't tell anyone. You probably bought into the snapchat HYPE and thought--hey' snapchat is popular, no way you can't make money off this stock!
...After seeing how much "Facebook's"stock is worth today from the initial IPO, it was hard not to think like that.
Snapchat's first day going public was a success for the company and smart traders alike. The stock rose from the $17.00 initial offering, up to $25.00 the first day and in the first few hours,of going public, and those who bought early made a "small fortune". In some cases.
The problem with snapchat that some were aware of, but not myself as you can tell. I bought snapchat at the $25.00 offering. It went up to $26.00 for about 5 minutes and never really got back to the $25 amount. I eventually sold it for a loss, like many others.
At the beginning snapchat looked like the place that all the cool kids were start to hangout on, while sending funny videos to each other-- and also adult stuff i guess?? But Then came the BIG problem that is killing snapchats success today.
We all know Facebook, and Instagram are the leaders in their respected niches... So when snapchat thought they were going to come in and take over. They had a rude awakening. After facebook realizing why everyone liked snapchat. Facebook and Instagram decided to do something about the hype. They went out and blantly copied snapchat with stories and funny filters of their own.
Heck this is why we all use snapcahat anyways. we could just sent a video or a message through our phones if we didn't want to be funny and cool. and send a video of ourselves looking like a "dog" or something right?
So as we have it now, Facebook and snapchat come in and "snake" the stories and filters from snapchat. That means less and less are now joining snapchat on a daily basis, due to Facebook and Instagram having the same features, ther's no reason to go over to snapchat now!
Actually recent numbers show more users are using Instagram stories than snapchat.
With the loss of their positioning where does snapchat go from here?
Snap released its Spectacles camera, and recently expanded distribution of the product, but has not seen a significant bump to its bottom line yet.
Do you think snapchat spectacles will improve snapchats app?
How do you think snapchat can recover it's old popularity? leave a comment below i would love to hear?
