Snapchat is ‘total junk’, not worth $500 million and investors should avoid its IPO
"We are at the tail end of the social media boom. Novelty is giving way to fatigue," Trip Chowdhry, managing director of equity research at Global Equities Research, wrote in a note on Sunday.
The analyst gives several reasons for his bearish call. Firstly, Chowdhry said "durability is absent" with the company, citing Groupon, games maker Zynga, camera firm GoPro, and fitness wearable company Fitbit as examples of firms that have struggled.
http://www.cnbc.com/2017/01/23/snapchat-is-total-junk-and-investors-should-avoid-ipo-analyst.html
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