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6 days agoSnap downgraded to Sell from Hold at Stifel - TipRanks.com
Stifel downgraded Snap to Sell and cut the price target to $6.50, citing increasingly negative ad checks and growing downside risk.
A post on X by The Kobeissi Letter captured the scale: "It's official: Crypto just saw its LARGEST liquidation event in history with 1.6 MILLION traders liquidated. Over $19 BILLION worth of leveraged crypto positions were liquidated in 24 hours, 9 TIMES the previous record." It notes it marked a single-day swing in Bitcoin's market cap of a $380 billion.