Hedge Funds Give up on Snap

A large number of hedge funds sold their shares of the social media company before it reported second quarter results.

(Michael Nagle/Bloomberg)

(Michael Nagle/Bloomberg)

Investors — and hedge funds specifically — are losing their patience with Snap.

The social media company’s stock is down nearly 13 percent since August 7, when it reported second quarter results that were initially greeted positively. In the time since early February, the stock has fallen by about 45 percent.


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