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SolarCity Plunges After Chanos Discloses Short Position

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SolarCity Corp., the biggest U.S. rooftop solar developer, sank the most in 21 months after hedge fund manager Jim Chanos said he’s short the stock.

SolarCity slumped 13 percent to $40.99 at the close of trading in New York, the steepest decline since November 2013, after Chanos discussed his position Friday on CNBC.