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This is interesting. It looks like some of the recent turmoil in the stock market stems from enormous wagers by Softbank (which is staffed in part by some very controversial
Mega scoop: SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally
Kudos to the FT's markets team for breaking this whopper
SoftBank unmasked as ‘Nasdaq whale’ that stoked tech rally
(FT) - SoftBank is the “Nasdaq whale” that has bought billions of dollars’ worth of US equity derivatives in a move that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday, according to people familiar with the matter.
NEW: The Nasdaq "whale" that stoked the huge run-up in tech stocks before yesterday's fall can be revealed as.... Softbank. Whale-sized scoop from
Sources: unusually large call options purchases by SoftBank over the past month partly fueled the latest tech stock rally (Financial Times)
Everything is a Ponzi or Pyramid Scheme if you squint enough h/t
I want to watch the Softbank movie. A tale of how they foie gras'd promising startups and now the market in a pandemic.
“People are caught with their pants down, massively short. This can continue. The whale is still hungry.”
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