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Snapchat (SNAP) buys back $500M of its shares forgoes 4,902 BTC purchase
205 sats \ 3 comments \ @BlokchainB 7 Nov Stacker_Stocks
USD/BTC = $101,945 Block 922,572a
Snapchat is dead. Can’t grow any more and terrible balance sheet and instead of buying bitcoin they buy back their own shares!
Haha they don’t even try to pay off their debt.
But they do have an impressive amount of cash . As Saylor says buying back shares destroys capital
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131 sats \ 1 reply \ @0xbitcoiner 7 Nov
Shiii! No buyback's gonna help their long-term shareholders now!
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33 sats \ 0 replies \ @BlokchainB OP 7 Nov
Hahahaha I know I was so foolish to have this stock on my watch list. They are trapped. In 5 years buying bitcoin would have been better for them then buying back their own stock while they sit on alll that debt and an app that probably won’t grow much in terms of revenue
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67 sats \ 0 replies \ @Sandman 7 Nov
Humm! 🤔🤔 Why not wait to see what strategy the may have developed.
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