SPC stock soars as short sellers scramble to make up losses

Straight Path Communications' soaring stock sent short sellers screaming for mercy Monday -- none louder than Kerrisdale Capital's Sahm Adrangi. SPC, the Virginia-based provider of wireless spectrum licenses, announced Monday that it is set to be acquired by AT&T in deal valued at $1.6 billion, inclusive of debt. As part of the deal, SPC shareholders...