Snapchat has had a rough week. On Tuesday, Morgan Stanley, the bank that helped Snap Inc. go public, downgraded the company’s stock. Now another firm has followed suit. Cowen has lowered its rating of Snap‘s stock, reports CNBC, which has already led the company’s shares to tumble even more. Currently Snap’s stock is at $15.44, below its IPO price of $17. Analysts are cutting their outlooks for the company over questions about its user growth and ability to bring in ad revenue. The big point these firms keep coming back to is that it’s early days for Snap. There’s no telling when it will be able to turn a profit, or if it will continue to grow at a competitive pace.
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