#Snapchat #Crackle #POP – #IPO goes live for #Snap
Social media has redefined the way we live, work and interact. It has become an integral (albeit not fundamental) way in which brands and we as individuals interact with each other and spread messages. However, to all our fellow business / economics geeks out there I would bet my mortgage that Snap will literally ‘disappear’ within the next 3 years. Even with their Augmented Reality glasses etc, their IPO which launched yesterday gives them a ridiculous valuation… Silly money
Before people get overly excited about the gains on day one for Snap, it’s worth bearing in mind that reading too much into initial stock market movements is a bit like getting excited prior to a Trump press conference – things can turn very quickly! Take note: Facebook’s stock opened when they launched their IPO at $42 and closed its opening day at $38.37, which led to many observers to declaring its public debut a disaster for the company. The price fell as low as $17.38 but now trades at $136.
Courtesy of our in-house Cellar Door geek Samuel