[legion]

It used to take months or years for the hype to wear off after an IPO. (Netscape, anyone?) Now it seems to take days or weeks.

Snap’s stock has left a bunch of millennial investors under water | New York Post

If you’re underwater on Snap shares since the company went public, there’s a pretty good chance you’re a millennial.

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.