Just a warning to you all, I’m planning on buying shares tomorrow (sue me) and maybe some calls. I’ve been waiting painfully since march 2019, always thinking that the market was overvalued. I still do believe it is but I’m willing to be the catalyst that starts the next leg down. The market always seems to prove me wrong. At least this way I can align the market with reality. That’s the most insane thing about this fucking Snapchat run. Sure they got 50 million more users but they aren’t fucking making any more money. They are actually losing MORE money per user than they before this last earnings.
Just think about that. They’ve increased 25% usage of Google but are worried because they’re still losing money. The most efficient advertising company of all time, because they do not know if they can keep their advertising business profitable, is moving money away from that side of their company into other aspects of their portfolio. If someone had told you six months ago that after 26M people had filed for unemployment, and the 1st qtr GDP #’s were gonna come in somewhere between -4% and -10%, and then told you the play would be to buy calls, you’d tell them they were out of their fuckin mind. You wouldn’t believe them.