Snap Inc (SNAP)

[liontrades]

There is a reason that Morgan Stanley and Cowen downgraded this last week. Earnings are coming up on August 10 and they are going to be bad. The market already thinks it's overpriced and their AD model is weak right now.

A bad earnings report will easily drop this 30% down to $10 and from there you'll see panic selling and more downgrades from the big banks, so it's very feasible and highly likely it will see sub-$8 by the end of the year.