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Hedge fund manager Dan Niles explains why he's betting against reopening stocks

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Daniel Niles
John Chiala | CNBC

(This story is for CNBC Pro subscribers only). 

AlphaOne Capital Partners founding partner Dan Niles said Tuesday that he has been building short positions over the past couple of weeks in some of the stocks most exposed to the impact of the pandemic.

Niles said on CNBC's "Squawk Box" that he foresees a second wave of the coronavirus leading to extended shutdowns of segments of the economy and is betting against reopening stocks. 

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