On february, 2 Snapchat announced to go to NYSE. Shortly after investors started to buy stocks Snap Interactive. The stock exploded. Snap Interactive is a software company with sales around 36 million and has nothing to do with Snapchat.But greedy people do mostly stupid things and don't even check. Their only worry is to miss the opportunity. Well they did not miss it this time. This is Snap Interactive. LOL.
Snap Interactive (STVI) did a 1-for-35 reverse stock split on January 5th, which explains most of the rise in your chart. The jump in February might be confused investors, but who really knows? You should consider using back adjusted prices when charting. It's less misleading in cases like this.
From what I read the stock went up 160%, which can be correct after reading your remark. So the stock would have been around $3. Did not know about the reverse split.
Either you're right or Uncle Milty Friedman is right. You can't both be right. According to Uncle Milty, if there are billions, opps I mean "trillions just sloshing through the system" there will be "ludacris" [sic] inflation. But where is that "ludacris" [sic] inflation??? Will the person who is wrong here please stand up. Oh, I forgot. Uncle Milty can't stand up. I guess that leaves you, Agent double O seven.
Don't get these guys started. According to them there is ludacris inflation, "they" are just lying about it.
As far as I'm concerned, this company is clearly worthless. I only see advertising as a potential revenue stream.... and I would wager that the vast majority of their user-base has essentially zero disposable income.... which doesn't exactly entice advertisers. Full disclosure, I've never actually used their product, and never intend to.... I'm just going off of what I've heard about it.
back of the napkin gives me a 300 billion valuation. many eyeballs. easy to say name. dot com infinite valuation, like bitcoin.
as george would say: markets are reflective. this company uses the fact that all floats of this type were bought. I am sure some shorters still recovering from wounds. So, no shorters present -> if does not go down, goes up.