Jiang – Financial Treason & Crime

The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Ethel Jiang, 03 December 2018

The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting.
“Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” short seller Quintessential Capital Management’s Hindenburg Research said Monday morning in a report titled “Aphria: a shell game with a cannabis business on the side.”
Continue reading “Article: The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)”

Traders betting against FAANG stocks have made $5.5 billion during the brutal October sell-off (FB, AMZN, AAPL, NFLX, GOOG)

Ethel Jiang, 30 October 2018

Betting against some of this year’s best-performing tech stocks — the FAANG basket — has been a money-making machine during the brutal tech sell-off in October. Short sellers of FAANG stocks, or those investors betting against these shares, have seen $5.52 billion in mark-to-market profits since the beginning of the month, a return of 17.14% on an average short position of $32.2 billion, according to data from S3 Partners, a financial-analytics firm.

Since that time, the tech-heavy Nasdaq index has plunged 12%, in large part because of the FAANG stocks — Facebook (-13%), Apple (-6%), Amazon (-24%), Netflix (-26%), and Google (-15%). Continue reading “Article: Traders betting against FAANG stocks have made $5.5 billion during the brutal October sell-off (FB, AMZN, AAPL, NFLX, GOOG)”