A pair of hedge fund giants bought Snap shares last quarter (SNAP)
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Steve Marcus/Reuters

David Tepper's Appaloosa Asset management and Daniel Loeb's Third Point both acquired shares of Snap stock during the first quarter, filings show. 

Appaloosa bought 100,000 shares representing a $2.25 million investment, while Third Point purchased 2.25 million shares for a total investment of almost $51 million.Snap's had a disastrous run this week after the company reported earnings for the first time as a publicly traded company on May 10. The shares plunged 21% after...

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