BRC Group Holdings, Inc. - 5.00% Senior Notes due 2026
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What traders are saying
Apparently the market maker for Riley released the shares that were held for the corporate repurchase onto the market.
The previous lender had a ton of puts on Riley to offset their loss. Seems they exercised them last week and that is what caused a lot of volume and this is what squeezed out the shorts. They apparently sold their shares in full on Friday and yesterday. So… seems to me, now that these synthetic movements are done, now we can see what the market really thinks of Riley and it can run its natural course and get a fair shot once they get their business back up and running as should.
