One of Snap's biggest bears admits he was wrong, but still thinks shares will plunge by 30% (SNAP)
Business Insider -

Snap bear and Morgan Stanley analyst Brian Nowak has grown more positive on the company, but still thinks shares have 30% downside.

He raised his price target to $8.50 a share after the stock has gained 115% this year.

Nowak was one of the biggest Snap bears on Wall Street, previously having a price target of $5.50.

Watch Snap trade live.

Snap shares have run up more than 100% this year, causing one of the company's biggest bears on Wall Street to change his view on the stock.  

"Snap is...

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