Is there anything in the investment world less investable than SNAP?
This is a company losing millions of dollars/month, whose product is the ability to create funny pictures of friends that can be sent via the net and messages that disappear soon after having been transmitted.
This is utter nonsense. This is not a business; this is a time sapping hobby; a diversion; a silly little waste of aggregated time that could be spent “profitably” but which is spent stupidly instead.
Although we know that teenagers… and adults who think of themselves as teenagers… love this silly little “app,” but it is simply an app… and a silly one at that.
Is anyone with a rational investment horizon and a sense of history of investments surprised by the fact that since having gone public at $24/share SNAP’s shares have gone at best sideways and last evening fell nearly 30% on disappointing sales and “eye-ball” counts.
Again, as Herb Stein said, that which cannot continue won’t. SNAP, snapped and the investment world is a bit better place for its having done so. We trust we are clear.