Comcast Misses Billions After Giving Up on Snap

The Information: Snap crossed $100 billion in market value last week. Its shares are up 320% since late 2019. But one former shareholder likely isn’t so pleased: NBCUniversal. The Comcast-owned company sold out of Snap at the end of 2019, barely breaking even on its initial $500 million investment, which it made when Snap went public. Had NBCU held onto the stock, it would be worth about $2 billion at Snap’s highest point last week. And that wasn’t NBCU’s only mistimed sale last year.