Snap stocktwits software#

“That is, not due to a real understanding of the number or valuation.” “One of the non-fundamental reasons driving the stock is that many millennials purchased Snap shares at inflated levels due to their preference for the product,” said Shebly Seyrafi, managing director at FBN Securities. Markley said she bought some shares in Snap on the first day of trading and some more on the second day, when the stock hit the highest level of its short lifetime.Ĭompanies with especially enthusiastic customer bases, such as action-camera maker GoPro Inc GPRO.O, social games company Zynga Inc ZNGA.O and English soccer club Manchester United Plc MANU.N, have in the past attracted fans to dabble in their IPOs.īut the wildly popular Snapchat - with an average of about 158 million daily active users - appears to be taking the enthusiasm to another level, some analysts and brokers said. “Snap just felt like the IPO of my time and seeing where Facebook and Amazon are now, I really think Snap has the potential to grow (like them),” said Markley, who bought the shares through Stockpile, another online brokerage aimed at millennials, generally defined as people reaching young adulthood in the early part of this century. Kaleana Markley, a 29-year-old human resources consultant in San Francisco, bought Snap shares as her first stock market investment. It has sunk 25 percent since, closing on Friday at $22.07. Snap’s surge extended into the second day of trading, March 3, when its stock went as high as $29.44. The median age of Snap shareholders on the platform were 26, the same age as Snap Chief Executive Evan Spiegel, according to Robinhood. Trading activity on Robinhood jumped by 50 percent on the day of Snap’s debut, with more than 40 percent of those who traded that day buying Snap shares. Roh said he bought the stock on that first trading day at $25 a share. The day after, on the first day of trading on the New York Stock Exchange, the stock popped as high as $26.05. Snap sold shares at $17 a piece in its IPO on March 1.

Snap stocktwits software#

“I bought it even when I was pretty positive I would not make a profit in the short run, but just because I am a fan of the product,” said Chris Roh, a 25-year-old software engineer in San Francisco, who has only been trading stocks for about a month on Robinhood, a mobile trading app popular among millennials. But novice investors said their deep affinity with the disappearing-message app prompted them to jump in. Some seasoned investors have been wary of the volatile, relatively high-priced stock of a company that has yet to report a profit. The stock of Snapchat’s parent company has been on a roller-coaster ride since its market debut last week, surging more than 70 percent from the initial public offering price in the first two days of trading and plunging back down by a quarter since. The logo of messaging app Snapchat is seen at a booth at TechFair LA, a technology job fair, in Los Angeles, California, U.S., January 26, 2017.