Archegos and stock crashes on Friday 26

[Bumble]

An interesting story broke on Friday. It was reported on Forexlive and on Zero Hedge. A hedge fund called Archegos took a highly leveraged position in a number of stocks. The position went sour and they got a margin call, forcing them to liquidate billions of dollars of stock in a few hours. This caused a big fall in Discovery, Inc. (DISCA), Viacom CBS Inc. (VIAC) and several Chinese stocks. Nomura Holdings, Inc. (8604.T) has also fallen sharply, indicating that they might be the broker and may be on the hook for losses if Archegos goes bust. There could be further repercussions.

[Bumble]

Another recent collapse was Greensill. This video is from May 2020 and features the Greensill CEO being interviewed about the $800 million investment made by SoftBank. Less than a year later and Greensill went spectacularly bust.

https://www.youtube.com/watch?v=9XYf9VAtSzE

 

[Kman]

47 minutes ago, Bumble said:

Another recent collapse was Greensill. This video is from May 2020 and features the Greensill CEO being interviewed about the $800 million investment made by SoftBank. Less than a year later and Greensill went spectacularly bust.

https://www.youtube.com/watch?v=9XYf9VAtSzE

 

I'm just looking into this Greensill stuff, really fascinating, thanks, seems a lot like 2008