From the same people who brought you Fitbit, GoPro, Twitter, Etsy, LendingClub and a bunch of other overpriced garbage IPOs now comes Snapchat, the latest newcomer in a range of overpriced, worthless, idiotic and completely useless companies..
I just don’t understand who would invest in Snapchat’s IPO. It’s rather obvious the company is overpriced as hell. Snapchat offers nothing new, it’s even less original than Twitter if that’s even possible. How exactly is a photo-sharing platform valued at $24B? I wouldn’t even value it at $2B!
If you invest in Snapchat, you are basically gambling that it will keep going up after its IPO, which it might. Still, I can’t wait for it to go up, if it does, to short the crap out of it. It will be several weeks before shares are readily available to short and here I am, hopeful morons can push it to an even crazier valuation. A year from now, it will be a single digit stock.
At the time of writing this, we are seven minutes away from market opening and Snapchat’s IPO. To me, it’s overwhelmingly clear that the entire company is worthless. If investors are stupid enough to push its price up… I would be very happy.
“Hurr durr Gopro is worth $100 per share!”
If you invest in Snapchat, delete your trading account. This company is even worse than Twitter and I long thought nothing was worse than Twitter. Only idiots and/or people hoping other idiots will buy their shares for more than they paid will invest in Snapchat’s IPO.
