Snap's surging stock cost skeptics more than $375 million in a single day (SNAP)

pulse

February 7, 2018 5:18 PM

Snap crushed its quarterly earnings report, and the resulting stock spike has cost skeptics hundreds of millions of dollars.

Snap smashed its quarterly earnings report, as user growth and earnings-per-share beat analyst estimates, while the company also showed strong sales growth.
The resulting share spike has cost short sellers more than $375 million in a single day.

It's a bad time to be betting against Snap.

Short sellers — or investors looking to profit from a stock decline — are taking a beating on Wednesday as shares spike as much as 35%. The move has cost those Snap skeptics more than $375 million, S3 Partners

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