Facebook (FB) declined 19% after its earnings on Thursday and Twitter (TWTR) declined 20.5% after its earnings on Friday. We expect SNAP's earnings results on August 7th to be a lot worse than FB and TWTR. FB's recently launched Stories feature for Instagram is destroying SNAP and many people including NIA's President Gerard Adams have stopped using SNAP in favor of Instagram Stories. In NIA's opinion, it is an excellent idea to consider selling SNAP short here at $12.83 per share and buying SNAP put options.
