$SNAP - Snapchat IPO

Discussion in 'Community Chat' started by jack, Mar 2, 2017.

  1. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
    Messages:
    2,387
    Still about an hour away from opening the stock on the NYSE...

    Some are calling it for $23-26 open price on a $17 issue price.

    Damn.

    Turning people into doggy faces is worth this much?
     
  2. wojtekthebear

    wojtekthebear Member

    Joined:
    May 26, 2015
    Messages:
    9
    They go up and down. There is literally zero excitement about this IPO to any real trader who naturally lost his soul.
     
  3. shopster

    shopster Well-Known Member

    Joined:
    Jun 17, 2013
    Messages:
    512
    bring in the clowns.

    s

    https://www.nytimes.com/2017/03/02/business/snap-ipo-valuation.html?ref=business

    There’s no point in comparing Snap’s profits to any of those companies, since Snap doesn’t have any.

    The company lost $514.6 million in 2016 and $372.9 million the year before, according to the prospectus it filed in February.

    It has lost money every year since it began commercial operation in 2011 and has warned it may never earn a profit.
     
  4. Peterma

    Peterma Well-Known Member

    Joined:
    Jul 15, 2013
    Messages:
    832
    History repeating itself, the market never changes.

    Dotcom, many ipo's, lastminute (lmc) was one that I remember well, maybe because I still have 35 share certs locked away in the safe.

    The float was on Mar 14, 2000 - the placing was at 380p, oversubscribed, institutional took the bulk, over 250k retail applied to join in the guzzling at the trough, we got 35 shares each.

    Day 1 went up to 511 closed 490, more retail (thankfully not I) then joined in the guzzling mainly because of being left out.

    By mid April, trading at around 130 - by Nov 80p.

    Five years later net profit, the best number so far, was £26.5m..... oh, in the red £26.5m that is.

    "Clown show" is being nice, nothing changes.
     
  5. rod178

    rod178 Well-Known Member

    Joined:
    Jul 16, 2013
    Messages:
    3,077
    All something to do with 'Generation Stupid'

    [​IMG]
     
  6. Peterma

    Peterma Well-Known Member

    Joined:
    Jul 15, 2013
    Messages:
    832
    Darn!, so that's what the snapchat spectacles look like, wondered why everyone was laughing at me on Thurs at the NYSE :)
     

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