Shares in Snapchat parent Snap Inc. are trending downwward after a brutal report from a Wall Street analyst warning that the company is “quickly running out of money.” The stock has dropped more than 5% today to near the $7 level, its low point over the past year. Veteran media and tech analyst Michael Nathanson sent a blistering note to clients, warning that the social media company is “quickly running out of money” and needs a “miracle” solution.

 

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