Archegos Capital Collapse - What's stopping traders/investors from buying stocks that are sold on fire sale?
Billions of dollars of Archegos's positions sold in 2 weeks on fire sale, dropping X% from 23-Mar to 01-Apr:
IQIYI (Ticker: IQ): -42.4% [$28.91 to $16.64]
Tencent Music (Ticker: TME): -36.7% [$31.79 to $20.11]
ViacomCBS (Ticker: VIAC): -51.1% [$91.25 to $44.64]
GSX Techedu (Ticker: GSX): -56.2% [$73.44 to $32.18]
Discovery Communications (Ticker: DISCA): -39.6% [$71.68 to $43.31]
Vipshop (Ticker: VIPS): -33.9% [$45.58 to $30.14]
Thoughts? Why aren't traders/investors buying those positions? Or are the shares purchased by Bill Hwang (ex-star in Tiger) that bad?