Snap, the parent company to messaging app SnapChat, is set to report earnings after the closing bell May 10.
In a note from the start-up broker-dealer Robinhood, data scientist Arpan Shah said that the data Robinhood has on Snap, “doesn’t bode well” for the stock.
Here’s what Shah said:
- The buy to sell ratio for Snap is 1.1x heading to earnings, compared to 2.8x more buys than sells in the week after the IPO.
- The Under 30 demographic is more bearish on the stock than older investors.
- Snap is now the 3rd most popular stock, after becoming the most popular the week after the IPO.
- LA County, Snap’s corporate home, is more bullish on the social media company than the rest of the country.
Shares of Snap inc. are down 6% since the company’s IPO. The stock is down 1.42% May 10 as of 2:05 ET.
Get the latest Snap stock price here.