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Snap climbs 13% as activist Irenic suggests changes to boost stock's value 7x
CNBC· 2026-03-31 17:09
Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California.Shares of Snap climbed 13% Tuesday after shareholder Irenic Capital Management sent a letter to CEO Evan Spiegel outlining changes that could increase the stock's value by almost 600%."Snap should not continue doing what it has been doing. It's not working," Irenic wrote in its letter, published on savesnapnow.com alongside a presentation of recommendations.Accord ...