Huge stocks moving like small caps
One of the stocks that blew up Bill Hwang and was liquidated was Discovery Communication (DISCB) but for some reason it’s absolutely soared from the bottom, rising 3x including a double today on insane volume for a less-traded class of shares.
This is a $30B stock, which is larger than GME was at it peak.
Meanwhile, DISCA, which is simply a different class of the same share is broadly flat (and more liquid). It looks like someone is getting blown up on a spread trade and no one seems to be able to arbitrage it, because that’s some free money right there.
It’s madness out there as leverage and liquidity create storm after storm. It looks to me like retain is trying some kind of squeeze with DISCB trending on WSB.