Investors see Snap's IPO as 'too big to fail'
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Snap (SNAP) Adds to Gains After Stellar Debut
March 3, 2017 8:02 AM ESTYesterday's hot IPO for Snap (NYSE: SNAP) is adding to yesterday's surges. After gaining 44% on its debut, shares of SNAP are up another 2.3% in pre-open trade to $25.04. Yesterday's high on the stock was $26.05.
Upside comes despite zero love from the sell-side. So far there are 5 ratings: 2 Neutral and 3 Sells.
... MoreSusquehanna Starts Snap Inc (SNAP) at Neutral, $22 PT
March 3, 2017 6:34 AM ESTSusquehanna initiates coverage on Snap Inc (NYSE: SNAP) with a Neutral rating and a price target of $22.00.
Analyst Shyam Patil commented, "Euphoria could cause a short-term disconnect between fundamentals and valuation, but longer-term we struggle to see SNAP as an investment with meaningful upside potential from current levels."
He said near-term could offer upside potential
"We believe the current price of $24 could... More
