Matt Miller
speaker
2,275 appearances
66 recordings
6 series
first heard Oct 2024
last heard 10 Sep
Matt Miller’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 63 in all, peaking in Aug 2026 with 17.
Appearances
Shares are jumping on the news that activist investor Irenic Capital Management has built a position in the company.
Sources saying Irenic is pushing for changes to improve financial and operating performance.
Bloomberg's Leanna Baker joins us now.
She runs the deals team for us here at Bloomberg.
So what do we know about this investor and what it wants out of Snap?
Sure.
So we've seen a Renick before.
They're an up and coming activist.
They've gone after companies like News Corp before, owned by the Murdoch.
So they're no stranger to companies that are controlled.
But here, they're looking at sort of shaking up things at snap.
The stock is down 50% year over year.
They're asking for a lot of changes from a stock buyback to more adoption of AI to big layoffs and just other things that Snap should do to sort of get back on track.
Since going public in 2017, its products are wildly successful, but it hasn't really found its footing as a public company.
Just the share story doesn't tell that.
Yeah, I mean, I'm looking at...
This is a company that's only worth $7.4 billion, right?
Up against a meta, which is worth $1.4 trillion.
And you cite the year-over-year performance, but over five years, Snap shares are down 91%.
I mean, they've lost essentially all of their value.
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