Snapchat, the ever-popular mobile social network, is a public company. Snap Inc., their parent company, started trading on the New York Stock Exchange this past Thursday, meaning you can actually buy their shares.
While some people are avoiding the company’s stock for several reasons, thousands of investors and traders are scooping up as many shares as they can. After all, $SNAP has the potential to succeed where Twitter failed, turn a profit, and keep growing without the need for a future acquisition. If that happens, the stock’s current price of $27.31 a share could greatly increase in value.
But who is buying $SNAP? Thanks to data collected on StockTwits, we think we have an answer.
Investors and traders between the ages of 18 to 34 are particularly interested in buying Snap Inc.’s stock.
Around 40% of the users on StockTwits (our parent company and social media finance site) are between the ages of 18 to 34. Out of those users, 60% were following the $SNAP stock or actively looking at messages pertaining to the company.
Snapchat’s audience is relatively similar to interested $SNAP investors.
About 41% of all 18 to 34-year-olds in the U.S. use Snapchat on a daily basis. Based on our data at StockTwits, this same age range is responsible for the bulk of the interest in $SNAP‘s stock. Whether or not they actually bought shares in $SNAP has yet to be determined. According to this Wall Street Journal article, however, 43% of active Robinhood users last Thursday bought stock in the company.
Should you buy stock in $SNAP? We recently answered that question and many others for investors interested in the stock. Though if you’re an interested investor between the ages of 18 and 34, chances are pretty high that you’ve at least thought about buying the stock…if you haven’t already.