Here’s what happened in that wild trading in China internet stocks


In this photo illustration the ViacomCBS logo seen displayed on a smartphone.

Rafael Henrique | SOPA Images | LightRocket | Getty Images

Chinese stocks listed in the U.S. fell sharply last week, after several weeks in correction mode.

A trader who participated in some of the wild trading in Chinese internet stocks on Friday confirmed that the primary cause of the selling in Chinese stocks was that a fund, Archegos Capital Management, was forced out of its positions.

Here is the sequence of events, according to the trader, who asked to remain anonymous:

1. The catalyst was ViacomCBS, which did a $3 billion stock offering through Morgan Stanley and J.P. Morgan earlier in the week that fell…


CDC will extend national ban on evictions ban through end of June

Previous article

ARK Invest’s ARKX space exploration ETF to begin trading on Tuesday

Next article

You may also like

Leave a Reply

Notify of

More in Finance