Snap Shareholder Blue Duck Urges Board to Raise External Capital to Fund Specs Development

MT newswire2026/10/06 14:38

10:38 AM EDT, 10/06/2026 (MT Newswires) -- Snap (SNAP) shareholder Blue Duck Capital on Tuesday urged the company to raise external capital for its Specs smart glasses from venture capitalists or a strategic partner. In an open letter to the Snap board, Blue Duck said that such a move could lead to a re-rating that could more than double the company's share price to the $12-to-$14 range The move would remove an estimated $500 million in annual Specs spending from the company's core business and free up cash flow, the investment manager said. Snap did not immediately respond to MT Newswires' request for comment. Snap shares were 1.5% higher in Tuesday trading. Price: 5.65, Change: +0.04, Percent Change: +0.66

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