revhappy
Arch-Supremacy Member
- Joined
- Mar 19, 2012
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Did you guys read this?
https://www.bloomberg.com/news/arti...apore-air-is-now-worth-zero?srnd=premium-asia
https://www.bloomberg.com/news/arti...apore-air-is-now-worth-zero?srnd=premium-asia
The value of some of the leveraged short positions in Singapore Airlines Ltd. got wiped out on Wednesday after the carrier’s share price surged due to an adjustment for a rights issue of stock and convertible bonds.
A price movement of more than 20% within 15 minutes led to one of Societe Generale SA’s products shorting the stock -- DLC SG5xShort SIA -- losing all its value after a so-called airbag trigger was activated, the French bank said in a Friday statement. Trading of the instrument has since been permanently suspended.