US Stocks Unusual Movement | Optical Communication Concept Stocks Rise, Lumentum (LITE.US) Up Over 8%

According to news from Zhitong Finance APP, on Friday, Snap (SNAP.US) surged over 6% to $6.24. On the news front, the hedge fund Blue Duck Capital Partners hopes that Snap Inc. will sell part of its Specs business shares to raise funds. Alex Beinfield, Chief Investment Officer of Blue Duck, recently said in a letter to Snap’s board that Snap is "seriously" undervalued, and raising funds for Specs would unlock significant shareholder value. He stated that a financing centered on Specs would help support related expenditures without diluting Snap's share count, while also preserving its cash flow. Moreover, this move is expected to help the company reduce the Specs’ price of about $2,200. He believes that selling 20% of the Specs subsidiary at a valuation of $5 billion would raise $1 billion, enough to support that department's expenses for around two years.

According to Zhihui Finance APP, Firmus Grid, an Australian artificial intelligence (AI) data center operator backed by Nvidia (NVDA.US), originally planned to go public with a valuation of around 30 billions USD, which would have made it one of Australia's largest initial public offerings (IPO). However, due to overvaluation, insufficient investor subscription demand, and concerns in the market regarding the massive financing needs of AI infrastructure, this high-profile IPO was ultimately canceled on Friday.