SSTK Shutterstock from a contributor perspectiveI think this stock is about to plunge from a massive Head and Shoulder Bearish Chart Pattern.
I am a contributor on Shutterstock from the time they were publicly listed and in the last years they changed the tiers in order to keep more for themselves and give less and less to the contributors. The earnings for contributors are now at the 2015-2016 low, people that i know are not interested to post on Shutterstock anymore.
The picture sales are decreasing massively for contributors and i think that will reflect in the April 28 earnings call. I will buy some puts.
Other rival companies like Pond5 and Adobe Stock gained momentum and are starting to sell equal or better than Shutterstock recently. A lot of contributors that i know moved to those platforms.
My opinion is that the stock will drop to the $62 level and do a dead cat bounce before going to $42, which is a realistic target considering the contributors conditions right now.
