Overeager Investors Seeking Snap Buy Snap Interactive Instead

Stephen Shankland, writing for CNET: Investors eager to cash in on the initial public offering of Snap, makers of the popular Snapchat app, have instead been buying shares of Snap Interactive, maker of the Paltalk video chat app and FirstMet dating app. Snap Interactive stock, traded over the counter and not on major exchanges like Nasdaq, has slid below $6 per share in recent years, according to Google Finance. On Monday, after Snap detailed its IPO plans, though, its stock surged to $15 and remained between $8 and $10 per share Wednesday.

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[__aaclcg7560]

And do just as much in due diligence.

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[Dishevel]

Hmm.
I wonder. What percentage of people who bought the wrong Snap stock voted Trump?
My guess is that the number is lower than you would like.

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[murdocj]

I suspect it's pretty high... it's the same mentality... "sounds like easy money I'll just jump in... oops".

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[__aaclcg7560]

I wonder. What percentage of people who bought the wrong Snap stock voted Trump? My guess is that the number is lower than you would like.

Trump voters are poor and ignorant. Trump students — those who bought the books and/or went to Trump University — are poor and gullible.

Overeager = dumbass

[xxxJonBoyxxx]

>> Overeager Investors Seeking X Buy Y Instead

"Overeager" is the nicest euphemism for "complete dumbass" I've ever heard. I can't wait to use this in the office.

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[interkin3tic]

Wouldn't the investors who first made the mistake have potentially doubled their money though?

There's probably a lesson there about the financial industry and possibly world as a whole there...

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[Alioth]

Only if they can sell the shares they bought. Every sale requires a buyer, and if all the buying to get it up to $15 was really just mistakes, it's likely no one will buy them off you for that amount.

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[TWX]

Headlines historically have been written with capitalized first letters for all of the words.

You're right that it's gibberish, but that gibberish could have been corrected by writing a better sentence.

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[XxtraLarGe]

Headlines historically have been written with capitalized first letters for all of the words.

Except for works like is, the, and, or, of, etc., unless they are the first word of the sentence.

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[Anonymous Coward]

Which of those words do you see in the headline?

Pro-tip: the answer is none.

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[Anubis IV]

Absolute gibberish. Start capitalizing only the words that should be capitalized.

Headline capitalization has been a special case in the English language for centuries, so what the editors did here is appropriate, but even if you were to capitalize it normally it would still be "Overeager investors seeking Snap buy Snap Interactive instead", which doesn't do much to help you understand the situation.

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[Calydor]

Nope, just you.

Programmers are more autistic than gen pop

[tepples]

True, but software engineering employment and autism spectrum disorder are still correlated.

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[Ungrounded Lightning]

With "buy" using a lowercase "b", it better indicates that "Snap" and "Snap Interactive" are two different entities. Not as good as the quotation marks I just used (which I've no frigging idea if that is a grammatically-acceptable use), but better than it is now.

Officially grammatical or not, putting the quotes around the two company names is how I'd have done it. It nicely clarifies the boundaries of the multiple-word names, making the meaning of the sentence obvious.

Not for the first time

[Sun]

When Check Point Software Technologies [checkpoint.com] (a company that produces Internet security products, such as FireWall-1) had its own IPO, some investor gladly bought Checkpoint Systems [checkpointsystems.com]'s stock (at the time, producing store exit security systems for preventing theft). Shachar

Re:Not for the first time

[GameboyRMH]

I wonder if anyone's done intentional stock market "typosquatting" yet. Anyone know if it's illegal? I'm, uh, asking for a friend...

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[Anonymous Coward]

It is perfectly legal. When you register your new company, it has to be named sufficiently different from other companies. Apparently, "Snap" and "Snap Interactive" are sufficiently different.

So go ahead, look for high-profile companies that has not yet had an IPO, and typosquat. Keep the first word of the name the same, add a second word that seem vaguely relevant. "Interactive" certainly goes well with "Snap".

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[tlhIngan]

It is perfectly legal. When you register your new company, it has to be named sufficiently different from other companies. Apparently, "Snap" and "Snap Interactive" are sufficiently different.

So go ahead, look for high-profile companies that has not yet had an IPO, and typosquat. Keep the first word of the name the same, add a second word that seem vaguely relevant. "Interactive" certainly goes well with "Snap".

Well, it has to be "sufficiently" different that you can avoid a trademark dispute. "Snap" and "S

We seen this before...

[__aaclcg7560]

When Nintendo brought out their first Mario game for the iPhone, investors bided up the stock price until they found it was a different company partially owned by Nintendo that did the game. Nice run up for those who were ready to sell.

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[Calydor]

I think you mean when Pokemon GO came out.

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[__aaclcg7560]

I think you mean when Pokemon GO came out.

I stand corrected. Thank you.

That's news?

[Opportunist]

Piranhas going into a feeding frenzy as soon as they smell blood. That's noteworthy now?

Snap is already old and busted

[Spy Handler]

All the teens and 20 somethings I know have migrated from Snapchat to Whatsapp. Snap has jumped the shark already.

I hear Hillary Clinton likes Snapchat though, the messages you type automatically disappear! Maybe they can cater to the over 60 crowd.

More to the point

[Anonymous Coward]

Obviously these people are idiots, but has anyone actually liked at Snapchat IPO fillings, fob what I've read get have a huge deficit and no real mechanism for revenue generation and they say they are a $25 B company, I think the execs are cashing out and that it will fail as Twitter has.

Selling opportunity?

[Walter White]

Seems like a good opportunity to short sell Snap Interactive.

Just don't short Snap by mistake. ;)

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[magarity]

In theory you can short an OTC but in practice it costs as much as just buying it and hoping.

misread that as...

[Gravis Zero]

... maker of the Paltalk video chat app and FistMe dating app

oh my.

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[TroII]

Many moons ago I mis-dialed some vendor's 800 number, in the office, on speaker. A recording came on that started out "Thanks for calling 1-800-2-FIST-ME" and got nasty really quickly. Haven't thought about that in years, thanks for bringing that laugh back!

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[account_deleted]

Comment removed based on user account deletion

Is this another case of

[SeaFox]

'A fool and his money are soon parted"?

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[CanadianMacFan]

Are you referring to Snap or Snap Interactive? It's hard to tell in this case.

How did the fool get his money in the first place?

[knorthern knight]

That's the real question.

Remember Twitter and Tweeter?

[rodrigoandrade]

A foolish investor and his money are soon parted.

Pokemon Go all over again...

[wardrich86]

I hate these "investors" with a passion, and stories like this and the deal last year with Pokemon Go further back up my point. We've got these companies that are run by "Shareholders" and yet, as we can see here, it seems like shareholders have no fucking clue what it is they're buying... they just nab shit up that sounds related to something that's gone popular. 0 research done. I'm pretty comfortable to likening investors to cancer.

In other news...

[lactose99]

Many investors are dumb

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[CanadianMacFan]

And that they've probably put more thought into this stock purchase than they did voting.