After Snap Inc. (NYSE: SNAP) released its first quarterly report as a public company, investors did not like what the saw. And they punished it – sending shares down 20%.

Michael doesn’t like the stock either – yet – but he does see a “silver lining” in that report. It’s something Snap-curious investors should be keeping an eye on. He revealed what he saw last night during an appearance on CNBC World. Check it out below…