# Snap Inc (SNAP) — Axion Equity Dossier (convex framing)

**Verdict.** **Convex bet, not an index substitute.** ~0.32 to double in 24mo vs ~0.22 to halve in 12mo; Specs-100k 0.20, re-rate-to-2.5x-sales 0.25. P(beat QQQ)=0.30 is one lens. Own small for the asymmetry.

Full published report: https://snap-dossier.us-east-1.gists.org