DISCA - Archegos Capital was forced to sell more than $20B in stocks on Friday

March, 28 2021 08:30 PM Warner Bros Discovery Inc Com Ser A

Archegos Capital, the family office run that by Bill Hwang that was pushed to liquidate, was forced to sell more than $20b of stocks on Friday after margins calls, Bloomberg reported, citing two people familiar.Goldman Sachs (GS) emailed clients late Friday to inform them it was one of the banks selling, detailing a total of $10.5b in trades, though it didn't identify Archegos or Hwang, according to Bloomberg.Hwang, a Tiger cub who pleaded guilty to insider trading in 2012 when he worked for Tiger Asia Management, was deemed such a risk that Goldman, as recently as 2018, refused to do business with him, the report said.The billions of dollars in block trades on Friday from Goldman Sachs and Morgan Stanley (MS) included ViacomCBS (VIAC), Discovery (DISCA), Baidu (BIDU) and GSX Techedu (GSX).Earlier, GSX Techedu short sellers seeing vindication in stock plunge.

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Archegos Capital was forced to sell more than $20B in stocks on Friday

Company Name:	Warner Bros Discovery Inc Com Ser A
Stock Symbol:	DISCA
Market:	NASDAQ

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