Hedge Fund Settles At $2.25M With SEC For Exposed Short Seller Deal, 2 Cannabis Stocks Affected
Portfolio Pulse from Rolando García
Anson Funds settled with the SEC for $2.25 million over a secret relationship with a short seller that affected two cannabis companies, Lifeist Wellness Inc. (OTC:LFSWD) and IGC Pharma Inc. (NYSE:IGC). The scheme involved short positions and negative reports to profit from stock price drops.
June 13, 2024 | 7:29 pm
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NEGATIVE IMPACT
IGC Pharma Inc. (NYSE:IGC) was affected by Anson Funds' secret short-selling scheme, leading to potential negative sentiment and stock price volatility.
The exposure of the short-selling scheme involving IGC Pharma Inc. is likely to lead to negative sentiment and potential stock price volatility in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Lifeist Wellness Inc. (OTC:LFSWD) was affected by Anson Funds' secret short-selling scheme, leading to potential negative sentiment and stock price volatility.
The exposure of the short-selling scheme involving Lifeist Wellness Inc. is likely to lead to negative sentiment and potential stock price volatility in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80