Why Shares of Snap Inc. Fell 23% in July
Shares of Snap Inc. (NYSE: SNAP) fell 23.1% last month, according to data provided by S&P Global Market Intelligence, after one analyst downgraded the stock and another lowered his price target for the stock.
The first bit of bad news came as Credit Suisse analyst Stephen Ju lowered his price target from $30 to $25 toward the beginning of the month. Ju said he was concerned with the company's volatile growth, as well as with the fact that Snap insiders would be able to unload some of their shares after a lock-up period expired at the end of July. (When insiders sell shares after a lockup, it can sometimes drive a company's share price down.)
Image source: Snap.
Source: Fool.com
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