Snap is set to open near a record low after analyst reportedly says it's 'quickly running out of money' (SNAP)
Business Insider -

Snap is sliding ahead of Tuesday's opening bell after MoffettNathanson analyst Michael Nathanson reportedly slashed price target, saying the company is "quickly running out of money."

Last quarter the social-media company reported its first-ever decline in sequential daily active users and said its cash burn was up in the second quarter.

CEO Evan Spiegel recently sent out an internal memo admitting the company moved too fast in 2018 and laid out a path to profitability in 2019, but Nathanson is...


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