4 ms·

Jim Cramer says Snap shouldn't be a public company due to its low earnings

19 points by mbgaxyz 9y ago

hkmurakami 9y ago
This quote is from Jim Cramer. Carry on now...
- nrb 9y ago
  I think the argument being made is one worth evaluating: "In fact, if they'd waited three more quarters to do the IPO — meaning right here — the stock likely wouldn't be anywhere near this high. With these numbers, you know what, it might not even have been able to come public at all." Did they know this is where it was heading and rushed to IPO, leaving the public holding the bag? However, It's not as if they necessarily misrepresented their situation, they were pretty clear they have no profits and no clear path to them.
  - craftyguy 9y ago
    > It's not as if they necessarily misrepresented their situation, they were pretty clear they have no profits and no clear path to them. Exactly. This whole thing reads like some folks make a poor choice because they assumed this was The Next Big Thing(TM), and now they are upset that they got burned.
  - draw_down 9y ago
    I think it’s probably correct. But to me that means they’re smart and IPO’d at the right time. They found a bunch of greater fools.
foldr 9y ago
Good time to browse through all the comments explaining how specs are a brillant idea and we just don't get it. https://news.ycombinator.com/item?id=12569182 https://news.ycombinator.com/item?id=12569182
- 1123581321 9y ago
  The idea is that someone who thought the glasses would be successful deserves to be mocked? I don’t agree.
  - foldr 9y ago
    Anyone who posts predictions about the future on a public forum runs the risk of people from the future reading them! Checking back from time to time is a good way to remind ourselves exactly how seriously this sort of material on HN ought to be taken, in spite of the confident air of many of the predictions.
carc 9y ago
If it is so obvious that snap "shouldn't be a public company", then the price would be far lower than the ~$12 it's at now..
- deleted 9y ago
  [deleted]
- carc 9y ago
  Why the downvote? The world is rife with people making claims like this but not putting their money where their mouth is...
velodrome 9y ago
No, it will get delisted from the exchange at $1. https://finance.zacks.com/nasdaq-delisting-rules-7450.html https://finance.zacks.com/nasdaq-delisting-rules-7450.html I think Blue Apron (APRN) listed too early. It's currently at $3 (from $10 at IPO). By the way, why would you take financial advice from someone who spends 5 seconds thinking about your investment idea. "Bear Sterns is fine!" @ $60 -> $4 (3 days later) https://www.youtube.com/watch?v=-6u1kG7yuy4 https://www.youtube.com/watch?v=-6u1kG7yuy4
- rasz 9y ago
  There is whole movie based on Jim Cramer Bear Sterns episode, Money Monster (2016).
QuadmasterXLII 9y ago
It's a shame, because it's far and away my favorite social app

19 points by mbgaxyz 9y ago

hkmurakami 9y ago

This quote is from Jim Cramer. Carry on now...

nrb 9y ago
I think the argument being made is one worth evaluating: "In fact, if they'd waited three more quarters to do the IPO — meaning right here — the stock likely wouldn't be anywhere near this high. With these numbers, you know what, it might not even have been able to come public at all." Did they know this is where it was heading and rushed to IPO, leaving the public holding the bag? However, It's not as if they necessarily misrepresented their situation, they were pretty clear they have no profits and no clear path to them.
- craftyguy 9y ago
  > It's not as if they necessarily misrepresented their situation, they were pretty clear they have no profits and no clear path to them. Exactly. This whole thing reads like some folks make a poor choice because they assumed this was The Next Big Thing(TM), and now they are upset that they got burned.
- draw_down 9y ago
  I think it’s probably correct. But to me that means they’re smart and IPO’d at the right time. They found a bunch of greater fools.

foldr 9y ago

Good time to browse through all the comments explaining how specs are a brillant idea and we just don't get it. https://news.ycombinator.com/item?id=12569182 https://news.ycombinator.com/item?id=12569182

1123581321 9y ago
The idea is that someone who thought the glasses would be successful deserves to be mocked? I don’t agree.
- foldr 9y ago
  Anyone who posts predictions about the future on a public forum runs the risk of people from the future reading them! Checking back from time to time is a good way to remind ourselves exactly how seriously this sort of material on HN ought to be taken, in spite of the confident air of many of the predictions.

carc 9y ago

If it is so obvious that snap "shouldn't be a public company", then the price would be far lower than the ~$12 it's at now..

deleted 9y ago
[deleted]
carc 9y ago
Why the downvote? The world is rife with people making claims like this but not putting their money where their mouth is...

velodrome 9y ago

No, it will get delisted from the exchange at $1. https://finance.zacks.com/nasdaq-delisting-rules-7450.html https://finance.zacks.com/nasdaq-delisting-rules-7450.html I think Blue Apron (APRN) listed too early. It's currently at $3 (from $10 at IPO). By the way, why would you take financial advice from someone who spends 5 seconds thinking about your investment idea. "Bear Sterns is fine!" @ $60 -> $4 (3 days later) https://www.youtube.com/watch?v=-6u1kG7yuy4 https://www.youtube.com/watch?v=-6u1kG7yuy4

rasz 9y ago
There is whole movie based on Jim Cramer Bear Sterns episode, Money Monster (2016).

QuadmasterXLII 9y ago

It's a shame, because it's far and away my favorite social app