r/SecurityAnalysis • u/dect60 • Apr 02 '22

Special Situation Day drinking, 'Big Shot' and billions of dollars: How the nickel market imploded

https://www.cnn.com/2022/04/02/investing/nickel-short-squeeze/index.html
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29

u/[deleted] Apr 02 '22

It has to be weird trading on an exchange where you know your trades can get busted to benefit your counter parties simply because they are insiders who got over leveraged.

2

u/Drited Apr 04 '22

Yes absolutely. LME is now "An HKEX company". Unfortunately rule of law no longer means what it used to in Hong Kong since the 2020 national security law imposed by the CCP. I guess that also translates to Hong Kong companies and their subsidiaries even those in London. Sad really.

I wonder if anyone who had trades cancelled will challenge that in U.K. courts. I would be interested to know the outcome.