Hedge Fund Shorts Getting Slaughtered On Citi Rally

Go back a couple of weeks ago to Citi's (C) last government bailout. Remember that Citi's preferred shares rallied, as investors believed that the publicly traded preferred shares were being converted to common equity at a favorable price (an inducement for guys like Prince Alwalid to play along). Many hedge funds simultaneously went long the preferred while shorting the hell out of the common stock, causing shares to collapse.

Topics:  citi's c    prince alwalid   joe   wsj   tyler   zero hedge   february    i   read   join   so much for that citi short squeeze c    will citi common stock soar   tomorrow   citi's   it   citi    c    rally   hedge fund   shares   today   preferred   government   funds   arb   shorting   price   billion   investors   couple   weeks   rallied   return   longer   conversion   
BING NEWS:
  • 5 of the Top Hedge Funds in 2023
    Years ago, Warren Buffett placed a bet that in the decade spanning from 2008 to 2018, a simple, low-cost S&P 500 index fund would outperform a collection of hand-picked hedge funds, net of fees.
    10/1/2023 - 4:59 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Entertainment News