Snap (SNAP) stock has soared by almost 200% this year as investors have cheered the company’s turnaround. The company has had two impressive quarters, with stronger daily active users and increased engagements. The company has also increased its guidance for the year. Further, investors have been impressed by the company’s increased innovation that has seen it move into gaming and augmented reality. The surge in the stock price means that Snap is now valued at more than $20 billion. In this article, we will explain why we recommend shorting the stock at the current level. First, the company’s growth concerns will continue to remain especially as its core demographic ages. Second, we believe that the current company’s growth does not justify the premium valuation.

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