Steven A. Cohen, the hedge fund billionaire, has taken a 5.4% stake in Pandora, the money-losing internet radio operator.
Pandora announced major changes to its board in a move that appears to have put an end for now to activist investor Corvex Management's Keith Meister's campaign at the company.
The stats show that being contrarian in heavily shorted large-cap stocks can pay off.
Airbnb and the internet haven't been the disasters for those sectors that many thought.
Short-sellers are crowded into these large-cap stocks, and that makes them statistically likely to move higher in the weeks ahead.
If you're willing to play the contrarian, your portfolio stands to benefit.
CEO Leslie Moonves finally finds a home for his storied yet stagnant radio business, a merger with Philadelphia's Entercom that will create a company with 244 stations.
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