Snap briefly jumps after rival Instagram loses its founders

The simultaneous exits of Instagram’s founders could signal trouble at the company and lead to a tumultuous transition period — either of which could be good for Snap.

The stock closed Tuesday 1 percent up at $9.06.

Snap’s stock has been on a downward swing in recent weeks, down roughly 20 percent in the last 30 days. The shares are more than 50 percent off their 52-week high.

Disclosure:
CNBC parent NBCUniversal is an investor in Snap
.

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