What happens when your media company goes Super Woke, then destroys a cherished franchise such as Star Trek by producing horrible woke-ified trash like Star Trek Discovery (STD, Disappointment, Disaster, Disgusting, Dumb, Disjointed, Drek, …)?
Well, you find yourself a little short of cash, and a little long on folks shorting your stock.
What happens when truly idiotic management then issues a Secondary Stock Offering to try to get some cash? The shorts go wild as it is Party Time!
Viacom / CBS (Star Trek) 1 Year Daily 28 Mar 2021
Looks to me like about 1/2 of stock price (“value”) wiped out in about a week.
Now, in fairness, it only set it back about 3 months to about where it ought to be on the SMA lines / stack. But still, the year is young…
Musings from the Chiefio 
Could not happen to a nicer network. Perhaps it will ripple through the rest of the crap networks out there as well.
Forced liquidation from blown up hedge fund Archegos.
I hit them (and others) at every opportunity. But I fear this drop is the work of hedge funds.
Linked here is Archego’s holdings. They were 5 times leveraged and somehow blew up. :) Hope the link works.
https://pbs.twimg.com/media/Exnz3KHXEAYWr7z?format=jpg&name=medium
Sounds illegal to me. :)
FXHedge
@Fxhedgers
ARCHEGOS CAPITAL USED THE SAME COLLATERAL TO ENTER TRS CONTRACTS WITH UP TO SEVEN BANKS BOOSTING LEVERAGE AS HIGH AS 700% -FINEWS
@Chiff – You can probably pick up a beach house really cheap after the SEC, courts, and investors are done with the partners.
😁
FYI
https://www.redpowermagazine.com/forums/topic/139296-this-is-funny/
@H.R. I guess it all depends on who you are. MF global run by a former NJ senator = no consequences. I’d settle for one of their golf club memberships. :)
“Get Woke go Broke” is starting to really bite. as Audience and Advertisers shift to independent Internet content providers, Main Stream Media become vastly over priced stock. GoldmenSachs and JPMorgan are busy trying to shed their positions before investors realize the stocks actual value. Will this deliberate Creative Destruction cause a major Stock Market retrenchment?
@p.g.Sharrow – Yep! You can fool the woke all of the time, but you cannot fool the buyers most of the time.
It is the quiet revolution. I have not stood up and denounced Amazon. I have just switched most of my buying to other sources. Mostly it is a net zero. On occasion it is a bit more (Shipping). But I am old, and I am earning big bucks, and I do not give a flying EFF!