Snap (NYSE:SNAP) shares had a wild 2019. The stock rallied from low single digits all the way to $17 per share in the first half of the year, followed by a bit of sideways consolidation in the back half of the year. The stock has started out 2020 in a similar sideways fashion. The stock got up to $19.76 at one point in January, but now sits a couple dollars lower at $17.56.

The company is still putting up substantial losses. A relatively high valuation and new competition from the rising star app TikTok are seemingly keeping shares under a $20 ceiling. Snap has yet to prove they're capable of turning this app into a cash-generating machine.

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