Snapchat Is a Hit With Millennial Investors

Despite slowing user growth and lack of voting rights.

By
Tech
4,588 Hypes 0 Comments

After hitting the stock market as a publicly traded company, shares for popular photo messaging app Snapchat’s parent company SNAP surged to more than 70 percent from its initial public offering price. Although relatively high prices and signs of being volatile made veteran traders wary, millennial investors flocked to SNAP with analysts stating the company has tapped into the pride of ownership for millennials. With many millennial investors buying SNAP shares because it is something they know. Snapchat averages 158 million daily active users between the ages of 18 and 34 who spend an average of 25 to 30 minutes on the app over 18 visits a day making it currently the most used social media platform. Trading activity on Robinhood a popular trading app jumped 50 percent on SNAP’s debut day, with 40 percent of users buying SNAP shares. Additionally, the median age of SNAP share buyers on the trading app was 26. Despite a recent steep price drop, slowing user growth and lack of voting rights for new shareholders millennial support of the company is still at an all time high.

Read Full Article
Source
Bof
Photographer
Gavin Yeung/Hypebeast

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

101 Users Online

What to Read Next

The adidas Originals EQT Support ADV Gets a Clean Tonal Pack
Footwear

The adidas Originals EQT Support ADV Gets a Clean Tonal Pack

Four new colorways for JD Sports.

Watch Nicki Minaj Steal the Show During Drake's 'Boy Meets World' Tour
Music

Watch Nicki Minaj Steal the Show During Drake's 'Boy Meets World' Tour

Singing one of her Remy Ma diss tracks.

The Nike Air Max 90 Ultra Breeze Gets Two New Colorways for Spring
Footwear

The Nike Air Max 90 Ultra Breeze Gets Two New Colorways for Spring

Ultimate breathability in “Lemon Chiffon” and “Trooper” olive.


Bugatti & Palmer Johnson Introduce One of the Most Luxurious Ways to Sail the Seas
Travel

Bugatti & Palmer Johnson Introduce One of the Most Luxurious Ways to Sail the Seas

The one percent’s dream toy.

Neil Bedford Releases a Limited Edition Two-Part Newsprint Journal
Arts

Neil Bedford Releases a Limited Edition Two-Part Newsprint Journal

His latest personal project.

Palace Is Dropping Round Two of Its 2017 Spring/Summer Collection This Week
Fashion

Palace Is Dropping Round Two of Its 2017 Spring/Summer Collection This Week

“MO SPRING.”

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We noticed you are using an ad-blocker

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.