Briefing: Snap climbs 13% as activist Irenic suggests changes to boost stock's value 7x

Irenic Capital has put forth a series of proposals aimed at improving Snap's market performance, suggesting the closure of the Specs division.

The plan also involves replacing over 20% of Snap's workforce with artificial intelligence, which could streamline operations and reduce costs.

If implemented, these changes could lead to a potential sevenfold increase in Snap's stock value, indicating a significant shift in operational strategy.