This month, activist investor Bill Ackman lost around $4 billion on an investment in Valeant Pharmaceuticals. Ackman’s loss is one of many stock market trading losses in recent years.
Because of the secretive nature of many hedge funds and fund managers, some big losses may never be reported to the public.
Following are five painful stock market losses in recent years.
In 2015 and 2016, Valeant Pharmaceuticals faced criticism about drug price hikes and the use of a specialty pharmacy to distribute its specialty drugs. The company’s stock price fell around 90 percent since the peak, according to Wikipedia. Valeant reversed the price hikes and changed its specialty drugs distribution.
Ackman’s Pershing Square Holdings fund held a major stake in the company before selling out in March 2017 for a reported loss of $2.8 billion.
In March of 2017, Ackman sold his remaining 27.2 million share position in Valeant to the Investment Bank Jeffries for around $300 million. The total cost
Read more ... source: CryptoCoinsNews
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