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Source: Common Domain

Snap Stock Is Dropping After Another Executive Called It Quits

Thursday 17:16 GMT

Social media—or, if you prefer, camera—company Snap (ticker: SNAP) issued some upbeat, if brief, guidance Tuesday that might, at another time, have boosted the stock.

“We viewed the hiring of Mr. Stone as a significant win for Snap last May,” wrote Wedbush analyst Michael Pachter, who has an Outperform rating and a $12.25 price target on the stock since a September upgrade “due in large part to our belief that Mr. Stone’s addition to the Snap team along with other high-profile executive changes would improve and have a measurable impact on the development of and articulation of the company’s strategy.”

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte