This is one of my favorite stocks to speculate in. I usually keep a few stocks on my watch list and keep track of the range the stock trades in.
Whenever I notice a significant pull back – I will step in to buy. Some stocks I keep only for a short time – others for long. My short term trades are usually in my TFSA and longer term trades in my RRSP.
I have previously done short term trading in Snapchat and made a decent return.
I was tempted to buy Snapchat when it reported its first quarter earning as a public company last month, and its stock took a big dive. It did come back up after that drop and recently has fallen even lower hitting below its IPO price of $17. I personally feel the $17 will act as a floor and I have picked up some stocks for $17.10. I may sell when it reaches $19 range or may hold it even a bit longer. Hopefully – it turns out to be a profitable trade!