Snap Bear Turns Bullish on One-time Hedge Fund Favorite

The big-name investors and early hedge fund supporters of the social media company dumped the stock a long time ago — and missed out on this year’s big rally.

(Patrick T. Fallon/Bloomberg)

(Patrick T. Fallon/Bloomberg)

It’s a case of too little, too late.

Shares of Snap surged around 11 percent on Thursday, to more than $11 per share, after analysts at investment bank BTIG raised their rating on the stock to a “buy” and placed a $15 price target on the shares — six months after they trashed the stock.


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