Snap is getting hammered

source
Markets Insider

snap stock price down

source
Markets Insider

  • 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 $14.54. The stock closed Friday at just under $16, 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 $15 a share, but Pivitol Research’s Brian Wieser moved his price target to $9 from $10, 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.