UPDATE: Snap opened up higher by +50%, a comical situation for all parties involved. Enjoy losing money in SNAP for the next two years.
When will someone put an end to this already? If you buy $SNAP today, you deserve to lose all of your money. At 25x sales, it will be the most expensive social media stock of all time. As a point in fact, at 25x sales, sporting a market cap of $24b, it will be the highest valuation large cap stock in America.
Social media peers
So how did we get to this retarded place where cool companies come public very late in their growth stage at absurd valuations?
VENTURE CAPITALISTS.
What is a venture capitalist?
They are professional pyramid schemers who finance the best private companies to the tune of billions — keeping them private for extended periods of time until their growth phase peaks and then IPOs them only when they want to cash out.
That is literally what they do.
The net result is an IPO system which is totally broken. It doesn’t serve as a viable investable genre any longer — as it is replete with unicorns and other fanciful companies who’ve been brought public at such extreme valuations, it’s almost impossible for after market participants to make money on them anymore.
Sure, sometimes these IPOs squeeze higher and make people money for short periods of time, like $GPRO, $SHAK, $TWLO and $FEYE — but they always crash and burn.
The investment banks did a good job at marketing this piece of shit, $SNAP. Without question, the company is growing fast and is a relevant part of idiot youngsters pathetic lives. But rest assured, if you purchase SNAP today, you will lose money in it over the next year. The stock, thanks to its extreme valuation, will be dead money for at least a year, if not longer.
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$24 Billion assuming it opens at $17. Crazy pos might open at $25 as retards bid it up.
In three months or so it will peak and then tumble. I’ll but the tumble.
my typing sucks.. buy the tumble.
The classic American tale of dick pics to riches
I remember Facebook’s 50% drop after its IPO like it was yesterday.
Remember, the most informed investors already own this thing and they’re selling. Retail will be bag holders.
Materials stocks getting creamed again. What wickedness is this?
Worth 35BB on the open at $23. What. The. Fuck.
Stock market doesn’t exist primarily for retail traders. Trade at your own risk.
The cash injection this will make back into the risk takers community will benefit future ventures, inspire future entrepreneurs, create jobs at these companies + the communities that support them, and allow the creators at these companies to do their best to continue developing and delivering value. If you want to change the system, legislate. Active investors like Icahn don’t seem to give a shit about the pyramid scheme as it is, but he’ll happily bully Apple into buybacks and dividends then hit the bid on one scary quarter after railing against corporate buybacks.
Can’t really hate VC when your ideological portfolio strategy is to get the government to finance your trades.
https://www.youtube.com/watch?v=xFYLO-wcKkw
11 am raid on silver and gold…trigger? the USDJPY pair?
It’s March, gold trades down in March… Haven’t you looked in Exodus??
Don’t buy snap – yet aNOTHER winner for the week.
https://www.youtube.com/watch?v=FSswEzWJdWo