All things STOCKS

#8,727
#8,727
Looking at IBB here. Bounced near the 200 day, and it may be a beneficiary if Biden tries to increase research spending as he mentioned in the presser.
 
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#8,732
#8,732
$FUBO seems to be suffering as well. Wonder this $VIACA crash is affecting it? Granted it seemed like it was overvalued above $40, but now it seems like it's undervalued.
 
#8,737
#8,737
BigOrangeMojo said:
Im barely up(1.4%) in that timeframe. Just my response for when you pulled the same post last year.
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Oh I remembered. I booked our return trip a couple of weeks ago (more expensive than last year). We're about three months out, but I am jealous. I could use some saltwater in my life.
 
#8,742
#8,742
This Bill Hwang story is insane. I had never heard of this guy before last night. Was supposedly controlling ~10% of the economic interest (not actual shares) of VIAC and DISCA via CFDs. The ramp in the broader market last Friday was also supposedly caused by him unwinding his short book to meet margin calls.
 
#8,743
#8,743
05_never_again said:
This Bill Hwang story is insane. I had never heard of this guy before last night. Was supposedly controlling ~10% of the economic interest (not actual shares) of VIAC and DISCA via CFDs. The ramp in the broader market last Friday was also supposedly caused by him unwinding his short book to meet margin calls.
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Discovery was 100% higher one week ago.
 
#8,744
#8,744
Just another crook in the middle of securities trading:

Shares of a U.S.-listed Chinese entertainment company, IQIYI Inc., also sold in block trades Friday as part of the unwinding, fell 13% to $17.43. Discovery released a statement in response to the selloff on Friday reaffirming its outlook to Wall Street.

The losses mark the latest public setback for the publicity-shy Mr. Hwang, who is best known for his prior firm, Tiger Asia Management LLC, in 2012 pleading guilty to a criminal fraud charge. Tiger Asia also agreed to pay $44 million to settle civil allegations by U.S. securities regulators that it engaged in insider trading of Chinese bank stocks.

Mr. Hwang and Archegos's co-chief executive, Andy Mills, didn't respond to requests for comment.
According to people familiar with the fund, the highly levered Archegos took big, concentrated positions in companies and held some positions via swaps. Those are contracts brokered by Wall Street banks that allow a user to take on the profits and losses of a portfolio of stocks or other assets in exchange for a fee.

The use of swaps allowed Mr. Hwang to maintain his anonymity, even as Archegos was estimated to have had exposure to the economics of more than 10% of multiple companies' shares. Investors holding more than 10% of a company's securities are deemed to be company insiders and are subject to additional regulations around disclosures and profits.

Stock blocks sold Friday amounted to 10% or more of outstanding shares in companies including online luxury retailer Farfetch Ltd. and New York-listed Chinese tutoring company GSX Techedu Inc.
The episode reignites debate over whether the use of swaps presents a market vulnerability.
 
#8,746
#8,746
I just looked at DISCA. Just wondering if there's any reason to be excited now that the Hedge fund finished exploding. I decided I don't think so.
 
#8,748
#8,748
Firebirdparts said:
I just looked at DISCA. Just wondering if there's any reason to be excited now that the Hedge fund finished exploding. I decided I don't think so.
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They do own most of their content outright, but direct subscriptions with viewers is a different business for them. They beat Netflix on the first point but lose with the second. Discovery needs a bigger player to merge with (Netflix would be a good one... Netflix still rents much of their content).
 
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