Greg Sandoval/Business Insider
- Snap shares are up following a rating upgrade from a team of analysts at Wedbush, who are encouraged by the company’s recent management changes.
- The social media company announced Monday that strategy chief Imran Khan was leaving, and Wedbush said his departure was beneficial to the company.
- Khan has “no meaningful strategy or operations experience” and the company’s strategy “has never been well-articulated,” the analysts said.
- Watch Snap trade in real-time here.
Shares of Snap jumped more than 2% on Tuesday after Wedbush, a formerly neutral firm that had been hesitant to make recommendations, upgraded the company amid a recent executive departure.
The social media company said Monday that its Chief Strategy Officer Imran Khan will be leaving the company, but will continue to serve in his current role to help with the transition. Company insiders and outsiders were not sorry to see Khan go, as “he had no ad or media background” and was not a “good fit in that strategy role,” Business Insider reported.See the rest of the story at Business Insider
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