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.
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