Can SnapChat IPO Mark The Market Top?
History is littered with garbage IPOs debuting at insane valuation levels to much fanfare and right at market tops. We had numerous examples at 2000 and 2007 tops. Most recently Alibaba (BABA) marked the exact date 9/15/2014 of an important market top. A fairly significant sell-off followed.
Perhaps nothing screams BUBBLE more than today's IPO of SnapChat (Snap). We ran the numbers and we wrote about it before IPO Stupidity Continues With SnapChat That is to say, only a risk hungry speculator would even consider participating in SnapChat's public offering.
This chart represent yet another stunning view of the subject matter.
There isn't much I can add here. Other than to once again remind you that a company with very little revenue, massive losses and the following line "Snap warned that it “may never achieve or maintain profitability”.........trades at a higher valuation than some of the most prominent corporation out there.
If history is any guide, SnapChat (Snap) ludicrous IPO just might be the final nail into today's bubble bull market. Time will tell.
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