Snap Inc

We've seen the hype, Snap has listed on the NYSE and the company now has a market capitalization of around 28 billion dollars. It's not a profitable business, so why the backing from investors? The only answer must be that investors are taking a punt, or gambling in other words.

By market cap, Snap is now worth more than Terex (3.51), Genesee & Wyoming (4.60), Martin Marietta Materials (14.22), Navistar (2.38) and Winnebago (1.14): they all add up to 25.89 billion. Call me old fashioned but I just ran off a list of companies that actually do something. Snap lets you do silly things with photo's and you share them. Fun yes, but is this a real thing with real value?

So by my measure Snap is not something to invest in.