Metaplanet Plunges 8% As UBS Joins Morgan Stanley In Shorting Bitcoin Treasury Giant
Metaplanet shares plunged 8% after UBS reopened a short position, joining Morgan Stanley in betting against Asia’s largest Bitcoin holder. UBS had closed an earlier short but re-entered with a 73.1 million share position, underscoring mounting pressure from Wall Street as a weak Bitcoin price and Metaplanet’s sliding share price threaten to undermine both its business model and its ability to raise funds for more purchases. Investment banks including Jefferies and JPMorgan also remain short, though some peers like Goldman Sachs and Citigroup have recently cut back their positions. When investors short a stock, they are betting that its share price will drop. Metaplanet’s share price is now down more than 31% over the past month, according to Google Finance . Metaplanet share price (Source: Google Finance) Bitcoin is down almost 3% in the past month. Morgan Stanley Is The Biggest Short Morgan Stanley MUFG has the largest short position on the Bit...
