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Millennial love for Snapchat extends to the stock - Business Insider

NEW YORK, March 12 (Reuters) - For some millennial investors, loyalty to one of their favorite apps matters more than financial details in the case of Snap Inc.

The stock of Snapchat's parent company has been on a roller-coaster ride since its market debut last week, surging more than 70 percent from the initial public offering price in the first two days of trading and plunging back down by a quarter since.

Some seasoned investors have been wary of the volatile, relatively high-priced stock of a company that has yet to report a profit. But novice investors said their deep affinity with the disappearing-message app prompted them to jump in.

via www.businessinsider.com

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