Can Snap Stock Bounce Back After Last Week's 11% Drop?

The bears are winning the war on Snap, Inc. (NYSE: SNAP) these days. Snapchat's parent company saw its shares plummet 10.9% after a pair of analyst downgrades helped send Snap stock below its early March IPO price of $17 for the first time.

The first Wall Street pro to talk down the stock last week was Brian Nowak at Morgan Stanley, downgrading the shares from "overweight" to "equal weight" on concerns that Facebook's (NASDAQ: FB) Instagram is gaining at Snapchat's success. John Blackledge at Cowen then downgraded Snap on Friday, lowering his price target and ad revenue estimates in the process.

Snap's a broken IPO now, and it's not easy to bounce back as a rookie once the market loses faith.

Source: Fool.com