David Tepper Bought Snap and Would Buy More

Tepper discussed social media investment in CNBC interview

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Mar 08, 2017
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David Tepper (Trades, Portfolio), Appaloosa Management leader, said he bought Snap Inc. (SNAP, Financial) at its IPO and said he would sell if it went high into the $20s. He also said he was not excited about it at $21.80 per share but would accumulate more if it fell back to its IPO price. Tepper said he believes the demographic for the app would expand to older people as it positions itself to benefit from an "anti-Facebook" attitude amoung young people.