Snapchat Stock Value is through the roof and can't be justified

Snapchat (SNAP) IPO date was yesterday and it came out soaring. Everyone is looking for a reason to buy and if you haven't bought (me included) you are the exception not the rule. I have received a lot of emails lately from people asking me whether they should by the stock. My reason for not buying SNAP is: Twitter (TWTR), Pandora (P), Groupon (GRPN) and Facebook (FB).

Yes even Facebook tanked for a while there following its intial public offering - all the way down to $17.55. So yes, you can get in even cheaper, if you just wait and wait patiently. But even so, lets just admit here once and for all, Snapchat is beyond overvalued. Insanely valued. Let me break it down for you, for those who don't have teenagers or know a teenager, this is what the app does. 

• You take a selfie of yourself - preferably from a high angle because that is what makes you look skinnier, and people will give you more attention that way. 
• You use a filter that makes you look like a Roman god and nothing like your actual self. 
• You send it to all of your friends of choice. 
• It disappears in a few hours!
• You own the halls of your high school or college campus.

Now that we got that out of the way, here are all the companies that Snapchat, at some point today was worth more than - and God bless the soul of the individual who bought at the high tick price of $29.44 (probably Gartman if I had to guess). 

Now here is where I list a couple hundred names of stocks that has a lower market capitalization than the Snapchat stock value. Included are names like Target (TGT), Boston Scientific (BSX), Marriott (MAR), CBS (CBS), Kroger (KR), Archer Daniels Midland (ADM), Kellogg (K), Ross Stores (K), American Airlines (AAL), Royal Caribbean Cruises (RCL) and Dollar General (DG). 

I mean these are companies that have a profit and actually make money - Snapchat does not. So chill on the SNAP euphoria and let reality kick in some. 

(Click on image to enlarge)