As reasons for the Snap downgrade, Citizens pointed to ongoing leadership changes and increasing competition.
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Shares have hit their lowest level since June, despite reporting a decent quarter last week.
"It's a very hard business," Jim Cramer acknowledged.
We're also downgrading the stock in conjunction with the sale.
We're downgrading it back to our 2 rating, meaning we would wait for a pullback before considering adding more shares.
We're not making a call on the upcoming results, but we would like to have more wiggle room.
Shares of this company tumbled Tuesday after the CFO said some disappointing things about the U.S. business.
