I didn't actually read that part. If they only added 8MM DAU from June -> now, then it deserves to tank on its first trading day. Sounds like a decent short actually, once it cools down.
Why would it tank based on numbers available BEFORE it IPO's? I know there are idiots out there but surely the big investors are going to take figures available in the filing into account.
Well, it could go the Facebook route. Remember when FB was going to IPO at $33 a share and then it went up to $38 - it had a P/E ratio of like 100. People could just get excited about Snapchat being the next Facebook, it could go up with initial excitement (not saying all people, but markets are fickle). I guess we'll see what the price per share is.
