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Why Snap Inc (SNAP), Ulta Beauty Inc (ULTA) and Michael Kors Holdings Ltd (KORS) Are 3 of Today’s Worst Stocks

The initial reaction to new revelations from Washington D.C. (Donald Trump Jr. acknowledged he met with a Russian attorney who said she had dirt on Hillary Clinton) was bearish. But, with investors largely becoming numb to political drama and allegations that go nowhere, stocks managed to recover — more or less — by mid-day. By the time the closing bell rang, the S&P 500 was at 2,425.53, down a mere 0.08% for the session. That’s still below a key line in the sand, though not alarmingly so.

However, Michael Kors Holdings Ltd (NYSE:KORS), Ulta Beauty Inc (NASDAQ:ULTA) and Snap Inc (NYSE:SNAP) shareholders didn’t catch that same break. Rather, these three names dished out an inordinate amount of pain to their investors, albeit for understandable reasons.

Here’s the deal.

Snapchat parent company Snap is certainly no stranger to the daily worst-three list. But, today’s dubious distinction is unique in its prod. It was downgraded by Morgan Stanley, which was the recent IPO’s lead underwriter.

The downgrade itself wasn’t...


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