Reuters was first to report that well known short seller Muddy Waters was taking a new short position on Tuesday, in pharmaceutical company, Chinook Therapeutics Inc <KDNY.O >. Chinook’s share prices, which fell as much 18% on Tuesday, dropped within minutes of Reuters reporting.
Business & FinanceHealth
Chinook shares down about 6%, paring steep loss after Muddy Waters reveals short position in drugmaker
16 May 2023, 4:35 pm 1 minute
Market Impact
The stock was last down 6.77% at $21.815 a share. But immediately after Muddy Waters announced its short position, a bet the stock would decline, Chinook shares fell as low as $19.20, down 18% from the $23.40 close on Monday. Other healthcare stocks also fell.
Article Tags
Topics of Interest: Business & FinanceHealth
Type: Reuters Best
Sectors: Pharmaceuticals & Healthcare
Regions: Americas
Countries: United States
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
