The Piggly Wiggly short squeeze скачать в хорошем качестве

The Piggly Wiggly short squeeze

100 years before the Gamestop short squeeze in 2021 there was a wild short squeeze in a grocery store with a great name: Piggly Wiggly. In 1919, Clarence Saunders founded Piggly Wiggly Stores, a chain of retail self-service markets primarily located in the South and West. By 1922, the stores had thrived, leading to the listing of its shares on the New York Stock Exchange. Facing a group of investors attempting to drive down Piggly Wiggly’s stock price through short selling, Saunders initiated a buying campaign to uphold the stock value. To support this effort, he secured a loan of approximately ten million dollars from a group of bankers. His ambitious buying campaign aimed to create a corner in the market, causing the stock price to surge dramatically, reaching a peak of 124. He was a day away from successfully “cornering the market”: owning all the available shares; meaning he could force the short sellers to pay any price he demanded. But the stock exchange (suspiciously) suspended trading for 5 days and delayed the short sellers’ delivery obligations. These actions gave the shorts enough time to find shares to “cover their shorts” and eventually led to financial ruin for Saunders. History may not repeat but it does rhyme. Every new thing that happens has happened before and that history can provide a road map for how it may play out. Disclaimer: The information discussed should not be construed as tax, legal or investment advice. It is for informational purposes only and should not be taken as a recommendation or solicitation. Prior to making any financial decision individuals should seek advice from personal financial, legal, tax and other professional professionals. Investment products are offered through Aegis Capital Corp, a member of FINRA and SIPC. Investment products are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.