Snap climbs 13% as activist Irenic suggests changes to boost stock's value 7x
By Lola Murti
Published on March 31, 2026.
Shares of Snap rose 13% after shareholder Irenic Capital Management sent a letter to CEO Evan Spiegel outlining changes that could increase the stock's value by nearly 600%. The recommendations include shutting down or spinning off the company's augmented reality glasses unit, which was announced as a wholly owned subsidiary of the company in January. Additionally, Ireenic suggested using artificial intelligence more heavily to reduce workforce costs.
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