US Stock Movement | Snap (SNAP.US) rises over 6% as hedge funds urge the introduction of external capital for Specs, potentially unlocking shareholder value
智通财经2026/10/09 15:36According to news from Zhitong Finance APP, on Friday, Snap (SNAP.US) surged over 6% to $6.24. On the news front, the hedge fund Blue Duck Capital Partners hopes that Snap Inc. will sell part of its Specs business shares to raise funds. Alex Beinfield, Chief Investment Officer of Blue Duck, recently said in a letter to Snap’s board that Snap is "seriously" undervalued, and raising funds for Specs would unlock significant shareholder value. He stated that a financing centered on Specs would help support related expenditures without diluting Snap's share count, while also preserving its cash flow. Moreover, this move is expected to help the company reduce the Specs’ price of about $2,200. He believes that selling 20% of the Specs subsidiary at a valuation of $5 billion would raise $1 billion, enough to support that department's expenses for around two years.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Earnings Preview | Applied Materials (AMAT.US) Q4 Results are Certain, the Real Focus is on the Missing 2027 Quantitative Guidance
Applied Materials' high growth in revenue and profit this quarter is already certain. What truly determines the stock price is the guidance for fiscal year 2027, changes in gross margin, and the marginal changes in China-related risks.
Earnings Preview | The "buyer strike" in the tech sector is spreading; if Cisco (CSCO.US) guidance falls short of expectations, it could be yet another blow to tech stock sentiment
Cisco will release its financial report on November 12. The market expects EPS to increase by 33% year-on-year and revenue to reach $18.09 billion. The focus will be on AI orders and the integration with Splunk.
Crypto prices
More
