Super Spender - Chapter 343
Chapter 343: Chapter 337: Unreasonable – Part 2
Translator: 549690339
But as soon as the price of oil falls, a whole lot of people are set to suffer, and right now the SG Foundation is caught between a rock and a hard place: they either liquidate their contracts and cut their losses now or they keep injecting money. Up until now, the SG Foundation isn’t quite sure what is going on.
Those who are suffering along with them are ready to do anything. Damn it, you want to dig your own grave, huh? Well, don’t drag us in! These people decisively start to cut their losses and quickly start to build up a higher position, eager to recover their losses. It’s not just one of them thinking this. It’s many. And when all of these individuals start thinking like this, the price of oil is irretrievably low.
Right now, because the market is about to close, the people at the SG Foundation have to make a choice. After debating, they decide to deposit another 50 billion federal coins as margin, and quickly build up a short position, preparing to short and hedge stop-loss.
What makes the SG Foundation mad is, before they even begin to establish a short position, a huge short sell order is unveiled with as many as 10 million lots! This massive order stuns everyone who was thinking of creating a short position, but now they’re too slow.
If someone makes a transaction before you, it will be with the large short sell order first. When it’s your turn, it’s uncertain if there will still be a surplus.
The large short sell order might not have been processed yet, but it indicates massive amounts of capital are backing it. An investment this size can cause market fluctuations. At this moment, someone from the SG Foundation finally gets the news!
When the person responsible for the mess at the SG Foundation realizes they are in trouble because they bought shares in Company T, they berate the staff member who suggested the investment. Furthermore, they learned who was behind it all. Particularly as they found out that the other party holds almost a trillion federal coins in cash. That had them all choked up.
Can they compete with their opponents? Even if they were to throw all the human-asset value of everyone at the SG Foundation, it would be impossible to turn the tables now. All they could do now is sell off the shares of Company T as soon as possible, reclaim the funds from purchasing a 6% stake in Company T, and then whether to short or increase margin, at least ensure they don’t suffer a loss in the futures market.
Company T is a blue-chip stock for sure, but how many years would it take to recoup the losses of tens of billions of federal coins from the futures market by holding on to Company T’s shares?
The people at the SG Foundation are not stupid. They sold all their shares in Company T at the speed of light before the Pearl Island City stock market closed. Since Olivia Thatcher was still in control, as soon as they sold their shares, she immediately purchased them, then continued to buy and sell.
In the eyes of ordinary shareholders, Company T’s shares were sinking as if on an elevator ride, continuously being sold off. Ordinary shareholders couldn’t tell what was going on, so they could only follow and sell. Luckily, they didn’t hold much, so they didn’t lose much regardless of the price they managed to get.
But, for MIH Investment Group, it was heartbreaking. Being a wholly-owned subsidiary of NaspersLimited, NaspersLimited was trapped with over 20 billion federal coins, and what’s worse, they didn’t have any margin left! If there were to be a loss, they would never be able to recover that money. They sold Company T’s shares to reclaim funds to reinvest in the futures market and increase their margin.
The reason they sold their share in Company T was that they were out of liquid assets. If they didn’t sell shares of Company T, they would be forced to liquidate.
Today, neither LD nor Pearl Island City’s stock market will be calm. Moreover, there will inevitably be many people who won’t be able to sleep tonight.
Although the market has temporarily closed, the current situation is that.
The fund controlled by Finn Lewis is like a prehistoric crocodile that has crashed into a sheep pen. Unless they can unite, there’s no way they can compete with him. But can they unite? That’s simply not realistic, because even if there are only a hundred billion federal coins on the other side, there’s a chance that some financial crocodiles will work together to make a meal of it.
But the other side is holding trillions of federal coins! If you want to swallow that…well, that’s not just a matter of several financial bigwigs colluding, that would require several national agencies to come together. The current situation is that Finn Lewis is using capital to beat you to death!
After understanding the current situation, Finn Lewis went to bed satisfied, but who knows how many people were unable to sleep, especially Lawrence Rodger and Oscar Blair, who were left speechless, as Finn Lewis hadn’t given them any instructions to start acquiring yet.
In South California, at the headquarters of NaspersLimited, the shareholders who had made the decision previously were all present. The atmosphere in the room was very awkward because it was their decision not to let MIH approve the sale of Activision Blizzard shares, but now… Who the hell knew that Finn Lewis was hiding such an enormous crocodile behind him!
Damn it, if you have such a background, why didn’t you say anything? You could have just told us straight up, and we would have sold directly to you. Even at par price would have been acceptable!
“Should we try to contact them privately? We are willing to sell the shares of Activision Blizzard now.” One of the directors couldn’t bear the pressure and finally spoke. You need to understand, if real losses occur, each of them would suffer a significant loss, most crucially, NaspersLimited would face the risk of bankruptcy due to disrupted funding chains.
Once NaspersLimited goes bankrupt, they would be completely doomed.
“Are you an idiot? If we go find them now, do you think they’ll agree?” Another shareholder immediately shouted back.
“What’s your solution then? How long can we sustain with the funds we have?” The director who suggested the idea shot back.
“My suggestion is to sell all the shares in Company T. While the share price is falling, it’s not too drastic. If we sell all of them, we can recover tens of billions of federal coins. We can use this money to increase our margin or go short as well, offsetting our losses through the futures market.” Another shareholder proposed.
“We can’t sell! We all know the potential future of Company T. If we sell now, it will be hard to buy back later!” Another shareholder immediately disagreed.
“If we don’t sell, where are we going to find funds? Okay, even if we don’t increase the margin now, if we want to get back our losses, we can only maintain the current situation, go short, then recoup our losses by hedging.” The shareholder quickly retorted.
“Uh, Mr. Nell, can you do anything to help us from your end?” One of the directors turned to a slightly overweight gentleman and asked.
The old gentleman was none other than NaspersLimited’s biggest shareholder, a representative of the South California Standard Bank’s board of directors..
