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Snap surges after Wall Street heavyweights reveal stakes

Snap surges after Wall Street heavyweights reveal stakesBy Noel Randewich and Trevor Hunnicutt SAN FRANCISCO/NEW YORK (Reuters) – Snap Inc jumped more than 8 percent on Monday in its second strongest day since the social media company’s initial public offering, boosted by filings showing several institutional investors had owned its shares. Its stock had plummeted 23 percent late on Wednesday after its debut quarterly earnings report disappointed investors. Coatue Management LLC, Soros Fund Management LLC, Goldman Sachs Group Inc and Jana Partners LLC on Monday joined the list of fund managers disclosing stakes in the parent of the popular Snapchat messaging app at the end of March.

Source: Yahoo Finance

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