Could Snap Become the Next Cult Stock?
'A silly site, a silly valuation. But this is what goes on. It's Wall Street and it's just what occurs.'
Could Snap (SNAP) - Get Report become the next cult stock? Jim Cramer says the company fits the term, but "ultimately a cult stock is never valued on earnings, it's just valued on pizzazz. Until it gets to the point where it is such a winner that you can't fight it."
When it comes to Snap, Cramer adds that it's "a silly site, a silly valuation. But this is what goes on. It's Wall Street and it's just what occurs."
