Apr. 19 at 4:12 PM
$SKM vs
$ZM — If you’re playing the Anthropic trade, you might be looking at the wrong ticker
Street keeps pointing to
$ZM, but the math says otherwise.
$ZM owns ~0.6% → at ~
$800B implied valuation, that’s ≈
$4.8B exposure.
$SKM owns ~1.07% → same valuation = ≈
$8.6B exposure.
Now look at pricing inefficiency:
$ZM mkt cap ~
$27B → Anthropic = ~18% of value
$SKM mkt cap ~
$14.6B → Anthropic = ~59% of value
Read that again.
You’re getting more Anthropic per dollar in
$SKM. Rough calc:
$ZM → ~
$15 Anthropic per share
$SKM → ~
$22+ per share
And here’s the kicker — strip out the Anthropic stake and
$SKM’s core biz is trading dirt cheap (~0.4x P/S). Market still hasn’t fully repriced it.
Meanwhile secondary markets pushing Anthropic >
$600B, VC chatter near
$800B+… IPO narrative heating up into year-end.
$SKM already +80% YTD, but if Anthropic momentum continues, this isn’t done.
This is a positioning trade. Not hype — relative value.
I’m long
$SKM. Not financial advice.
