> says in its prospectus that it has no plans to make money and maybe never will Assuming you are talking about this sentence from the "risk factors" section o

> says in its prospectus that it has no plans to make money and maybe never will Assuming you are talking about this sentence from the "risk factors" section of their S-1: > We have incurred operating losses in the past, expect to incur operating losses in the future, and may never achieve or maintain profitability. That's relatively boilerplate and doesn't really mean much. The "risk factors" section is always very gloom-and-doom to avoid the appearance of over-promising returns. For example, Workday said "we have a history of cumulative losses and we do not expect to be profitable for the foreseeable future" in their risk factors. Shake Shack included "our inability to open profitable Shacks" as a risk factor in their S-1. Google listed pages and pages of "risks" that basically boiled down to "advertisers might stop using us". It's really not that unusual to say something like that. You might be right and Snap could be headed for a big fall, but that statement alone isn't much of an indicator.