US Edition
Published • loading... • Updated
Activist investor Irenic swoops in on Snap with new stake, shares surge
Irenic says Snap could be worth five times more if it cuts costs, uses artificial intelligence better and exits its Specs glasses unit.
Summary by Benzinga
8 Articles
8 Articles
Snap shares climbed 14% on Tuesday after activist investor Irenic suggested changes to boost the stock's value 7x, such as cutting staff by 21% and ending Specs
Lola Murti / CNBC: Snap shares climbed 14% on Tuesday after activist investor Irenic suggested changes to boost the stock's value 7x, such as cutting staff by 21% and ending Specs — Shares of Snap climbed 14% Tuesday after shareholder Irenic Capital Management sent a letter to CEO Evan Spiegel outlining changes …
The hedge fund also proposes that Snap streamline its cost structure by reducing its workforce and modifying its employee remuneration system
·Bogotá, Colombia
Read Full ArticleCoverage Details
Total News Sources8
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
Factuality
To view factuality data please Upgrade to Premium
