Shares SNAP are barreling towards fresh 52 week lows — after investors finally began to realize that they bought a company trading ~25x sales. There isn’t a world in the multiverse that can justify such a high valuation. Dare I say, this stock will be halved by year end. Even at 12.5x sales, the stock would be richly valued. They’d actually have to perform and begin thinking about the concept of making money. I doubt they have it in them.
When I printed out that chart above, the stock was barely off by 5%. Now it’s down 5.5% and getting worse by the second. Without question, the $18 level will be breached. Both SNAP and TWTR are great products, but shitty businesses.
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5.9%? Those are rookie numbers, snapchat. Talk to me when youre off by 15%.
ok
When you have a company whose main drivers of revenue are 13-year old girls, this is what you deserve.