(Reuters) – Morgan Stanley sold about $5 billion in Archegos’ stocks the night before the fire sale hit rivals, CNBC reported on Tuesday citing people with knowledge of the trades.
Morgan Stanley had the consent of Archegos, run by former Tiger Management analyst Bill Hwang, to shop around its stock late Thursday, the report said.
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Ramakrishnan M.)
