Snapchat stock plunges 18% on 2.2 billion loss first quarter financial statement

> Snapchat stock plunges 18% on 2.2 billion loss first quarter financial statement
> meanwhile Veeky Forums strokes their foreskin with e-shitcoins

Really makes me think

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>A stock is plummeting
>Somehow we should care
Here's your discussion
>"HOLY SHIT BUY THE DIP"
>"NO ITS ONLY GOING DOWN FROM HERE"
There, happy?

did you short it?

How about you don't comment and keep reducing yourself to worthless adclick and coinclick pump'n'dumping and leave this discussion open for those who actually understand business

For all the shit we get for trading memecoins the real joke is all the "investors" who bought shares in Snapchat

Who the fuck would put real money behind an app that exists solely to share naked meme pictures with your fuck buddy?

No, I lost my money in ETH.

>and leave this discussion open for those who actually understand business
Like Snapchat's board?

>naked meme pictures
what did he mean by this?

hmm? How are these two thing related?

>Think of all the solo investors agonising over article after article deciding whether to invest
>Looking at discounted cash flows, market share, revenue growth, etc.
>Think of the massive financial institutions dedicating thousands of man hours to decide whether to pull the trigger and invest in Snap
>Meanwhile, a bunch of NEETs are investing in random shitcoins on a vietnamese basket weaving message board based on a couple of sentences of hearsay and doubling their money or better in a week

What a time to be alive

yes, but the scale is different

I called it earlier today.

twitter.com/BTC_Predictions/status/862295060368543744

This is not surprising. SNAPCHAT user growth was already slowing down before they were facing competition from Facebook. The company is run by a guy who made a really simple app from his dorm - the kind of app you'd make for a school project. It just happened to get really popular. The CEO is a 26 year old who blindly stumbled his way into wealth. He has no idea how to run a company. Long term I'm very bearish on SNAP.

As far as fundamentals go, their p/s ratio is through the roof. The premium people are paying for SNAP, even down 20%, is utter insanity. They have a lot of debt and they have no clear path to profitability. Meanwhile, the CEO is trying to turn them into a camera company for god knows what reason. Now all of a sudden they are gonna try to compete with Nikon or something? If I were Evan Speigel, I would wait for the lockup period to end, dump all of my shares, quit as ceo, and use all that money to start a new company that isn't stupid.

Also check out www.btcpredictions.com it lets you do simulated bitcoin paper trading, and soon stocks too.

Nice post by a nice poster

I am thinking about Shorting Snap could make some good money on it

>losing money on ETH
Lmao how?

What's wrong with snap chat I'm at 14% profit. Bought at second lowest point.
I heard something about Olympia next year and that it will moon snap chat. After that I will sell

How does this company have so much debt when they don't do anything but host pictures.

Their app could have easily been made by any poojet and their server costs can't be anywhere near 15x their income.

This company is even worse than twitter and Tesla

You're too late.

>moon
>stocks
Will it go up by 30%?
lmao

...

gonna crash EVEN worse soon

Paying software engineers - particularly in CA - is pretty expensive. Also they gotta pay for their offices. Also server costs for an app that has as many users as they have really does add up. All that being said, they are spending nearly a billion per year and that does seem steep to me. Not sure if I'm missing something or if that cost all really does just come from what I mentioned above.

I bet SNAP plummets even more after their lockup period. Insiders will dump as soon as they legally can.

>14% profit
uh, have you checked the aftermarket today, broski? -23.06%
Or did you get in pre-IPO?

>invest in top 15 coins or a very well developed tech with a lot of potential or backing

>goes up 5% by the end of 1 month from investment every time

This is the case for everything but ETC.

You can literally just use crypto as a rainy day fund and probably come back in 4 months and have tripled your $100 into $300 without any effort

As soon as I pay my rent I'm going to put $200 into an altcoin and just let it ride