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Other shorts may well have moved in. Shorting at 3$ was optimistic. Shorting at $300 is less so. Some people are saying that Melvin Capital lied. That seems un
by dash2 6y ago
Other shorts may well have moved in. Shorting at 3$ was optimistic. Shorting at $300 is less so.
Some people are saying that Melvin Capital lied. That seems unlikely: my guess is that you'd go to jail for a long time if you lied about your purchases to manipulate the market on such a grand scale.
- sjg007 6y agoLie or go bankrupt? Hard choice.
- pivoter 6y agobecause melvin capital and citadel investments have a long track record of being clean and not fined for breaking laws... oh wait
- llampx 6y agoIts cute that you think anyone in the cozy wall street / hedge fund family would go to jail for lying.
- nearbuy 6y agoBernie Madoff, Conrad Black, Martha Stewart
- mmmeff 6y agoEven then, it’s more of a “jail” than a jail.
- nearbuy 6y agoI don't know that much about it. Martha Stewart went to a minimum security prison for female inmates, and honestly, she's exactly the type of criminal that belongs in minimum security. The judge recommended they send her to her first choice prison (in Danbury) but for some reason they couldn't and they sent her to a prison she didn't want. I'm not really seeing favoritism here. She was investigated for insider trading, but those charges got dismissed and she was ultimately just convicted for lying.
- pbhjpbhj 6y agoDid anyone end up in jail for causing the global financial crisis? Or, say, for manipulation of the interbank lending rate? Isn't it more likely the company will go bankrupt and the traders will 'only' have their most recent £10M bonus to fall back on?
- 6nf 6y agoThey did not lie, they just neglected to disclose how much of their shorts were closed.