- Snap is falling hard Monday.
- The Nasdaq is down, with Snap far outpacing its losses.
- Two analyst have now rated Snap a sell.
Shares of Snap are tumbling, down 8% Monday, to an intraday low of $US14.54. The stock closed Friday at just under $US16, and have fallen off considerably in early trading. The tech-heavy Nasdaq is down 2.5% Monday.
Two analysts rated the stock a sell Monday, according to Bloomberg data. Wall Street’s consensus on the photo-sharing company is $US15 a share, but Pivitol Research’s Brian Wieser moved his price target to $US9 from $US10, and Moffett Nathanson’s Michael Nathanson also rated the stock a sell.
Snap is now down 2% year-to-date, after having been in the green for much of the year.