Millennial investors are getting whacked after Snap's big miss (SNAP)

pulse

May 10, 2017 9:55 PM

Data from broker-dealers like Robinhood and TD Ameritrade suggest that millennials may wake up a little less wealthy tomorrow morning.

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Shares of messaging company Snap are plummeting in the after-hours trade.

The stock is down more than 21% after missing earnings and daily active user estimates in its first quarterly report as a publicly traded company.

On Snap we saw a lot of interest immediately following the IPO,"Kinahan said. "Now we don't see as much trading in Snap. Millennials seem to be holding Snap stock."

Snap reported a loss of $0.20 per share versus analyst expectations of a $0.16 loss.

Daily active users totaled 1

Click here for a real-time Snap inc. chart.

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