A drunken memo from Spiegel outlined new strategic goals, but appeared disjointed and incoherent. The company admitted its rushed the redesign of its planning, wants to make Snapchat the fastest way to communicate, and wants to be profitable by full-year 2019. Quick communication is great, but Instagram is helping people make money. That is far more powerful and Snapchat, which is nothing more than a cool toy.
Becoming profitable anytime soon is a pipe dream. Snapchat still cannot prove it is a viable business. The market seems to agree as the stock reached another 52-week low today. Snapchat’s story is dominating the financial news cycle. If the stock continues to crater it could take broader markets with it.
