As most of you requested, more info on SIG (not only their web site): Secretive High-Speed Trading Firm "Susquehanna International Group LLP, an options-trading giant, has largely avoided publicity during its three-decade history. Susquehanna’s core business is using quantitative models and computers to execute rapid-fire trades in various markets. Such firms tend to rake in profits by making thousands of small trades a day, often holding securities for fractions of a second." "“Susquehanna is like a black hole,“ said Paul Rowady, director of research at Alphacution. “There’s no light that escapes.” Strategies and Secrets of High-Frequency Trading (HFT) Firms And more on trading and manipulating (I know I am wrong here on IHL): “Biotech Company Says Citadel, Other Big Traders Manipulated Its Stock Price,” Biotech Company Says Citadel Securities, Other Big Traders Manipulated Its Stock Price A biotechnology company accused Citadel Securities LLC, Susquehanna International Group LLP and other Wall Street firms of driving down its stock price through a series of illicit trades. In a lawsuit filed Thursday in Manhattan federal court, Northwest Biotherapeutics Inc. alleged the market makers had repeatedly engaged in “spoofing,” where traders place orders with an intent to fool other investors about a stock’s demand and manipulate the price. "In the modern stock market, high-speed trading firms like provide stock quotes throughout the day, executing orders from other investors while collecting a thin spread between the buying and selling price of the shares. It’s unclear from the data cited in the suit whether the alleged spoofing trades were placed on behalf of other investors, or by the firms themselves." - sounds familiar? Citadel and Susquehanna SIG -Wealthy suburban traders—who fund conservative Republicans "They traffic in liquidity provision and highly volatile trading that creates wealth from financial strategies meant to cut into the margins of other investors, as opposed to the old fashioned way of investment in actual jobs or infrastructure."
Having read a bit on SIG, I still ask myself and Joel: what's going on since September 2022 ? Expect more on/from our "Strategic New Investors".
IHL Price at posting:
18.5¢ Sentiment: None Disclosure: Held
