NEW YORK: Options traders were placing bets this week that shares of Snap Inc were primed for a rebound after slipping below their initial public offering price of US$17 (RM72.96).
Shares of the Snapchat parent have slumped since a red-hot March IPO, falling below their initial sale price on July 10 and hitting a record low of US$15.21 (RM65.27) two days later after a lead underwriter downgraded its rating on the stock.
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