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Quants Snap Up Snap

Several of the largest computer-driven hedge funds were the biggest buyers of the social media company in the second quarter.

More bad news for Snap.The social media company said Tuesday that it planned to cut 20 percent of its 6,400-employee workforce. The news knocked the stock down another 2.5 percent to close at $10.01. The shares are now down nearly 80 percent for the year and almost 90 percent from

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