$SNAP - Snapchat IPO


jack

Administrator
Staff member
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?
 

shopster

Well-Known Member
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.
 

Peterma

Well-Known Member
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.
 

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