Snapchat, one of the most popular social media apps, is now a publicly traded company. Earlier today, Snap Inc. (Snapchat’s parent company) went public and started selling shares of their company on the New York Stock Exchange. This means that anyone with a broker or brokerage can now own a small percentage of the camera company if they wanted to invest in them.
While expert investors already bought their shares, newcomers to investing are pretty lost right now. Sure, buying stocks Snapchat sounds fun and all, but how do you do it? Better yet, how can you do it right now?
It’s actually easier than you think.
If you want to invest in Snapchat (or any stock), you need a broker or brokerage.
There are countless brokerages out there, but online brokerages like E*Trade and Fidelity Investments let you buy and sell shares of stock from your computer or mobile device. We personally prefer Robinhood for new investors, as it allows you to buy and sell stocks without paying fees or commissions. You only pay for the price of a share (or shares) and nothing more. We’ll use it in our examples below. (To learn how to use Robinhood, see our easy-as-pie tutorial here.)
Once you set up your brokerage and fund your account, you will need to search for $SNAP, Snap Inc.’s ticker symbol.
$SNAP is worth $25.12 as of this writing, so you’ll need to have that much in your account to buy at least one share.
Once you choose to buy $SNAP by pressing the “Buy” button in Robinhood, you need to specify the number of shares you want.
I only wanted one share of $SNAP, so that’s the number I specified. I owe an estimated $25.13 for the shares, though this price could go up or down by several cents after the order is submitted. If you want to create a “limit” buy and purchase shares at a specific price, check out our Robinhood tutorial.
That’s it! I now own one share of $SNAP.
I was even able to snag it for less than I thought. This is because the asking price decreased since I first started the transaction.
Discount online brokers like Robinhood are an easy way to buy and sell stock. If I didn’t like my investment in $SNAP, I could sell it just as easily as I bought it. If I sell it for more than it’s worth, then I’ll eventually have to pay capital gains taxes. For now, however, I’ll hold onto it and hopefully watch my $24.78 investment grow into something much bigger!