Roh said he bought the stock on that first trading day at $25 a share.
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. The median age of Snap shareholders on the platform were 26, the same age as Snap Chief Executive Evan Spiegel, according to Robinhood.
Snap’s surge extended into the second day of trading, March 3, when its stock went as high as $29.44. It has sunk 25 percent since, closing on Friday at $22.07.
Kaleana Markley, a 29-year-old human resources consultant in San Francisco, bought Snap shares as her first stock market investment.
“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.
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.
Originally posted 2017-03-13 15:17:55.
