Snap’s Sharp Sell-off Burns Prominent Longs

And why the shorts are still holding on to their positions.

Stephen Taub June 20, 2018

Patrick T. Fallon/Bloomberg

So much for the Snap rally.Shares of the social media company behind SnapChat fell more than 5 percent on Tuesday to close at $13.31.The stock had surged nearly 33 percent from May 29 through last Friday.However, investment bank Cowen reported a consumer survey

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