Snap Inc (NYSE: SNAP) closed at $7.71, down 8.21%, with trading volume spiking to 260 million shares. The S&P 500 and Nasdaq Composite indexes finished higher, despite social media stocks lagging.

Meta Platforms Inc (NASDAQ: META) fell 1.21% to $734.38, and Reddit Inc (NYSE: RDDT) declined 4.95%, following a cautious analyst view on the ad business.

Mizuho’s Neutral rating and $9 price target for Snap reflect weak feedback from advertising channels, leading to a growing list of Neutral ratings. Soft ad revenue and competitive pressure in social advertising continue to cloud near-term visibility.

Consider investing in the 10 best stocks recommended by The Motley Fool Stock Advisor, as Snap did not make the list. Stock Advisor has a total average return of 1,068%, outperforming the S&P 500. Investing in past recommendations like Netflix and Nvidia has yielded significant returns.

Read more at Nasdaq: Stock Market Today: Snap Declines on Neutral Analyst Outlook