Another Snap Investor Has Disappeared

Daniel Loeb

Photographer: David Paul Morris/Bloomberg

Investor Dan Loeb has sold his entire stake in the maker of Snapchat.

Third Point, Loeb’s hedge fund, sold about 2.25 million shares in Snap Inc. in the second quarter, according to a regulatory filing Friday. The social-media company’s stock is down 30 percent since its March IPO as user growth continues to disappoint.

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