Question About Snap Inc IPO

Hey everyone,

Not sure if this is the correct sub to ask something like this, but I digress. I was talking to a friend of mine about how Snap is fundamentally not a good company and he agreed. However, he raised a question that wasn’t too sure how to answer. He said “If it’s such a poor company why did people invest in it?”. Just wondering if anyone had an answer for this? Was it just the hype train or what? Any input is appreciated.

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  1. It’s worth exactly $0 right now. Actually less with all of its debt. They’re betting that it’ll be worth a lot in the future and that prices will never again be as low as they are now.

  2. >He said “If it’s such a poor company why did people invest in it?”.

    Why do people fall for ponzi schemes? Why do people declare bankruptcy? Why do people think they’re visitor 1,000,000 and won a free iphone? Why do people use one credit card to pay off another? Why do people invest in timeshares? Why do people wire transfer money to Nigerian princes?

    If you know the answer to these questions (I don’t, personally) then you can also answer your friend’s question.

  3. Well, even if there is fear around the stock, it would not start in a downward movement. People recognize that and invested. Now they are cashing out and shorting the stock.

    However, I don’t write SNAP off.

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