Let’s face it: SNAP sucks. It has been a garbage stock for years. If you had bought it at its IPO, which was eons ago, you’d be down about 70% right now. Evan Spiegel has done fine, though. He dumped his shares at very high prices and is enjoy a $3 billion net worth. Retail bag holders, on the other hand, have been ass-raped.
How could this be? META, for instance, is worth TRILLIONS! Well, the management at Snap doesn’t know what the hell they’re doing. Maybe that’s it. This social media outfit is a has-been.
Well, how much money do they make? Zero. They are in the business of LOSING money.
I’ve said it almost every single time I’ve written about Snap: Evan Spiegel married the supermodel below. His mind isn’t at work. He’s eager to get home. And that simple truth has cost shareholders countless hundreds of billions if value that might have otherwise been.
