The company Morgan Stanley made a mistake in the analysis of Snapchat - on AMarkets materials.
This resulted in the immediate reaction of traders who have questioned the impartiality of the bank's forecasts.
March 27 Morgan Stanley published an analytical information on the shares of Snap (the bank was previously one of the key investors and initiators of the company's IPO), putting a price on the shares of $ 28.
A day later, the bank issued a corrective note, changing the number of significant figures in the previously published financial model. In this case, the value of shares Snap remained unchanged.
This situation has raised doubts among investors on Wall Street in the correctness of research conducted by Morgan Stanley, as well as to the impartiality of the company.
