Seriously? Snapchat (SNAP) IPO had a market cap of US$24billion with a share price of $17 per share.
This IPO seriously looks like a huge speculation gamble coupled with miraculous expectations that the company will somehow generate a profitable net income after 2 years of net losses. That’s right… SNAP has had increasing net losses of US$373 million in 2015 and US$515 million in 2016 (According to Morningstar). These numbers were published for their IPO prospectus for all to see and people are still willing to throw their money at the stock hoping to catch a quick buck.