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Credit Suisse is still unloading shares of Discovery from Archegos

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Credit Suisse bank.

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Credit Suisse is still unraveling its positions from the blow up of Archegos Capital Management, traders told CNBC’s David Faber, putting more pressure on a beaten-down media stock.

The investment bank was shopping blocks of different classes of Discovery stock on Tuesday, Faber reported. Discovery was one of the stocks that fell sharply in late March when the family office run by hedge fund veteran Bill Hwang failed to meet its margin call. Discovery’s class A shares were down more than 4% in extended trading.

Discovery, along with fellow legacy media player ViacomCBS, saw its stock rise rapidly in the first few months of the year,…



Source cnbc.com

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