Snap CEO Evan Spiegel sold 50 million in Snap stock his first sale since the IPO SNAP

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Snap CEO Evan Spiegel sold 50 million in Snap stock.

It's his first stock sale since Snap's IPO.

Snap CEO Evan Spiegel sold 2,675,600 shares of Snap last week at a price of 18.71 per share, a transaction netting him just over 50 million.

The transaction was disclosed in a filing with the SEC, which you can read here. See the rest of the story at Business InsiderNOW WATCH: People are obsessed with this Google app that finds your fine art doppelg ngerSee Also:11 things unsuccessful people do over long weekendsA new part of the market is melting down as panicked investors get another 'wake-up call'Evan Spiegel doubles down on new Snapchat redesign, says complaints only 'validate' changesSEE ALSO: Evan Spiegel doubles down on new Snapchat redesign, says complaints only 'validate' changes

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