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Public Insanity

Is Snapchat's IPO the Good Kind of Crazy?

Toss a coin for whether it's a winner or a dud.

Let's say this up front: Buying shares in Snapchat's IPO next week is an act of lunacy.

It's nuts to buy stock of a company with just a two-year track record of generating revenue, a loss of $1.27 for each dollar of 2016 sales, a valuation higher than just about every other big technology company and sole decision-making power in the hands of two twentysomethings.