Elliott Management says shares might plunge one other 39% from present ranges, in accordance with new report

Posted On May 14, 2020 By admin With Comments Off

paul singer REUTERS/ Steve Marcus

Stocks could precipitate 50% from February high-pitcheds, the Elliott Management wrote in a Wednesday letter to consumers, Reuters reported Thursday. That forecast implies a 39% recession from current positions as investors continue to sort through the financial hulk left by coronavirus. Although Elliott has bought some assets and attachment, it says “there does not appear to be a gilded cornucopia of gleaming negotiates, ” according to the letter. Read more on Business Insider.

The market rout encouraged by the coronavirus pandemic is still far from being over, are consistent with Elliott Management, the activist hedge fund firm led by billionaire investor Paul Singer.

Stocks could fall 50% from February high-priceds, the hedge fund wrote in a Wednesday letter to patients. That would imply a approximately 39% lowering from current levels. Reuters first reported the contents of the report on Thursday.See the rest of the story at Business Insider

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