The $105 Billion ‘Ghost Stock' Blunder Rocking Markets in Korea
- Thread starter ajacobson
- Start date
Talk about high dividends stocks, 1000 shares for each share owned !
looks like huge losses for samsung securities, including loss of future business, and a mess to compensate investors.
Surprised the chart the doesn't look worse, it seems the market is not panicking.
https://www.bloomberg.com/quote/016360:KS
looks like huge losses for samsung securities, including loss of future business, and a mess to compensate investors.
Surprised the chart the doesn't look worse, it seems the market is not panicking.
https://www.bloomberg.com/quote/016360:KS
Jeez...
What I don't get is how quickly are those deposited? I mean... how can employees dump the stock so quickly? Settlement takes a while... 1 or 2 days at least.
Those 16 people dumping the stock surely will get shown the door... or they've sold stock they didn't own yet so they might still be short a shitload... I guess the brokerage would in the end be on the hook for that anyway.
What I don't get is how quickly are those deposited? I mean... how can employees dump the stock so quickly? Settlement takes a while... 1 or 2 days at least.
Those 16 people dumping the stock surely will get shown the door... or they've sold stock they didn't own yet so they might still be short a shitload... I guess the brokerage would in the end be on the hook for that anyway.
The stock is down about 10% from last Friday... but depending on the final tally it doesn't seem to bad...
Market cap of Samsung Sec is about 3 bln... I guess Samsung Elec would put some money down to cover if shit hits the fan....
what is wrong in short selling your own firm if it is not based on inside info.?
I wouldn't have anyone working for me who is short selling their own firm. It's either inside info, and if not... they don't believe in it... but they are willing to take the pay-check at the end of the week and half-heartedly do their 'job'.
If I have a short interest in my own firm... that wouldn't really give me an incentive to do my best does it? Maybe better to create some shit rumors, some skeletons in a closet in South America... create a false idea about the firms execs...
Would you really want that person to work for you?
These employees at Samsung Securities knew that there was a mistake in the transfer... they were doing something wrong. And they caused further damage to the firm.