Monday , June 14 2021

Morgan Stanley sells $ 80 million in shares and securities fall more than 3% on the stock market

Morgan Stanley announced the sale of a two-million package of shares on SQM yesterday afternoon at a price of $ 40 per share ($ 26,297). After the operation, the B-series of the non-metal mine went black on the Santiago stock exchange.

Specifically, the investment bank has sold 2.05 million shares of SQM, which means a total of $ 80 million. According to Bloomberg, the operation was done to "establish Morgan Stanley's coverage for certain derivative transactions."

After the sale yesterday, SQM-B shares said good-bye operations with a sharp decline of 2.57%, which attracted the stock to $ 26,500, its lowest level since January 4th.

According to preliminary data, the fall in the stock market meant that the non-metal mining company destroyed $ 300 million in the stock market capitalization.

The Bloomberg report states that the opening of the resale book was made immediately and that its closure was done "at Morgan Stanley's discretion".

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