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$SNAP "popped" 40% when it IPOed: https://money.cnn.com/2017/03/02/technology/snapchat-ipo/index.html https://money.cnn.com/2017/03/02/technology/snapchat-ipo/i
by nickvanw 8y ago
$SNAP "popped" 40% when it IPOed: https://money.cnn.com/2017/03/02/technology/snapchat-ipo/index.html https://money.cnn.com/2017/03/02/technology/snapchat-ipo/ind...
It now trades at less than half of that.
- azinman2 8y agoI can’t remember... had Instagram ripped all their features at that point?
- minimaxir 8y agoThe Snap S-1 noted slower DAU growth due to Instagram.
- techntoke 8y agoEveryone with a little bit of objectivity knew they were way overvalued. However, I remember the inauthentic PR machine kept pushing them everywhere.
- warp_factor 8y agoVery similar to Lyft and Uber it seems
- scarejunba 8y agoNah, that's just hindsight bias because loads of people claiming objectivity thought that about FB too. And they were crowing when FB hit 16. But they were wrong all throughout.
- harveywi 8y agoThe term is market correction. https://en.wikipedia.org/wiki/Market_correction https://en.wikipedia.org/wiki/Market_correction
- cjeane 8y agoor Dumb Money, depending on your position
- Kurtz79 8y agoFacebook IPOed at 38, went down to less than half of that 4 months after, now is at 166, after getting to 200+...
- netheril96 8y agoI remember vividly that when Facebook stock price went down to less than half of its IPO value, the whole HN community was convinced that Facebook was a just fad. Well, more like vindicated. Everyone was glad that reality was reconciled with their world view, including myself. How wrong we have been. Since then I have learnd to reserve judgment for any company, regardless of how their IPO goes.
- webninja 8y agoBlue Apron didn’t pop at all. It was listed at $10 and is now trading at $0.97 a year and a half later.