Morgan Stanley sold US$5 bn in Archegos’ stocks the night before massive sale

Author: Eamonn Sheridan | Category: News

CNBC (citing unnamed sources) filling in some details on the fire sale of stocks held by hapless hedge fund Archegos

  • Morgan Stanley was Archegos' biggest prime broker
  • Morgan Stanley sold the shares to a small group of hedge funds late Thursday, March 25
  • offered the shares at a discount
  • told the hedge funds that they were part of a margin call that could prevent the collapse of an unnamed client

Further stock sales continued in earnest the next day. 

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