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Snapchat Slides as Facebook Climbs: SNAP, FB in Charts

Snapchat parent Snap Inc's stock (SNAP) is sliding after a downgrade from Morgan Stanley. The stock is set to close -9% on the day.

Snapchat (SNAP) Stock Chart: The Downtrend Continues

As the updated price chart shows (see annotations), SNAP has been suffering since its first quarterly

.

Since then, the downtrend has accelerated. After a brief rebound above $21, SNAP has continued to trade at new lows. Today's gap down put the stock well below its IPO price of $17.
From Fortune: "Snapchat's Biggest Underwriter Says It Was 'Wrong' About SNAP Stock"

"...Morgan Stanley's downgrade is a particularly hard hit for the company as the bank was an underwriter for Snap's IPO, guiding the company through the...

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