1. Wall Street Demolishes Snap in a Brutal Round of Notes This Mornin

    Wall Street Demolishes Snap in a Brutal Round of Notes This Mornin

    Wall Street analysts are disappointed with Snap's third-quarter earnings results...

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    1. We initiated with an outperform when the stock was at $24. We have had the wrong call.
    2. Snap's (management) team is showing considerable fluidity in how it is managing its business and we believe this reflects poor leadership under a corporate governance structure that lacks accountability for senior executives.
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