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Heed These 3 Lessons, Millennial Snap Investors

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These are intriguing times for impressionable young investors.

The Dow’s cresting 20,000 for the first time in January before making a 24-day climb to 21,000 — the fastest 1,000-point climb since 1999 — coupled with this month’s $3.4 billion initial public offering for Snap Inc., parent company of social media darling Snapchat, has a lot of millennials wondering how to buy stock — or just jumping in and doing it.

“Snapchat, the social media platform owned by Snap Inc., is all the rage among millennials. The company’s newly public stock is, too,” The Wall Street Journal reported two days after trading began. Stock trading app Robinhood reported that 43% of users who made trades on the day of the IPO purchased Snap stock — and that the...

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