Lazard taking big hit on Ericsson fall

G

gbakker

Ericsson down 25% that means: 16 bln $ marketcap loss.

Some parties can deal with that, like Fidelity with 1% ownership. But there are also parties that will take a big hit.

Lazard Asset Management is an institutional holder with 0.38% of shares Ericsson..

Marketcap is only 2.5 bln $ for LAZ.

Watch this stock dive @ open today
 
LAZARD ASSET MANAGEMENT LLC 5,616,040 .38 $224,023,835 30-Jun-07

by my calculation they lost 60mil overnight, that can't be good for their stock today!
 
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