Elena Nikulina

Andy Constan: Purr has fallen 30 percent and HYPE 25 percent in under two weeks

Andy Constan: Purr has fallen 30 percent and HYPE 25 percent in under two weeks
Purr and HYPE see large declines

Shares of Purr have dropped 30 percent and HYPE has declined 25 percent in less than two weeks.

Andy Constan, founder and strategist of Damped Spring Macro, commented that after missing the chance to short these stocks, he now sees buying the dip as the opportunity.

Constan has recently addressed sharp stock price moves, noting when ONDS fell 55 percent to a new year-to-date low after a deal he viewed as unfavorable. He has also described shifts in long/short positioning as modest, pointing out that a net long range of 48-56% for equity funds came with only a 1.2% return gap. These comments provide context to his current views on recent declines in Purr and HYPE.

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