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Started By
Message
Globe Life -53% Five Billion Dollars in value wiped out
Posted on 4/12/24 at 10:18 am
Posted on 4/12/24 at 10:18 am
How can one short seller cause this ?
Globe Life Inc. accused of insurance fraud, stock plunges to lowest in more than a decade
The stock collapse on Thursday wiped out $5-billion dollars in value for Globe Life, Inc., according to the Wall Street Journal.
DALLAS — Stock for Globe Life Inc., one of North Texas' largest insurance providers, lost more than half of its value on Thursday after allegations of potential fraud by a group called Fuzzy Panda Research.
LINK
Globe Life Inc. accused of insurance fraud, stock plunges to lowest in more than a decade
The stock collapse on Thursday wiped out $5-billion dollars in value for Globe Life, Inc., according to the Wall Street Journal.
DALLAS — Stock for Globe Life Inc., one of North Texas' largest insurance providers, lost more than half of its value on Thursday after allegations of potential fraud by a group called Fuzzy Panda Research.
LINK
7
Posted on 4/12/24 at 11:09 am to The Torch
If true that's pretty significant.
Looks like a lot of people shot first and asked questions later.
Looks like a lot of people shot first and asked questions later.
Posted on 4/12/24 at 2:09 pm to The Torch
They came out and said it was a bad report (obviously). So is there a good time to get in on the stock in case it starts to pop upward after the initial hit?
Posted on 4/12/24 at 3:13 pm to The Torch
I was wondering why it tanked. I look at the top ten S&P losers every day to see if anything is on sale.
The headline was just them underperforming the market.
The headline was just them underperforming the market.
Posted on 4/13/24 at 7:30 am to Bestbank Tiger
quote:
I was wondering why it tanked.
This is my employer so we were all a little nervous yesterday.
It looks like this "short seller" put an article out accusing the company of several things.
My question is : How could one person's opinion or story rock an 11 Billion Dollar company that way, seems like someone's arse would be going to jail unless it's true.
Posted on 4/13/24 at 7:41 am to The Torch
quote:
My question is : How could one person's opinion or story rock an 11 Billion Dollar company that way, seems like someone's arse would be going to jail unless it's true.
I guess it depends on the evidence in the story.
Posted on 4/13/24 at 8:35 am to The Torch
I’ll say that in my years of being in the industry, I’ve come across many of their customers who described the sales and solicitation process, leaving me speechless. Either industry laws and regulations make a special exception for Globe Life or their agents and underwriters do not do things by the book.
Posted on 4/13/24 at 8:36 am to The Torch
(no message)
This post was edited on 4/13/24 at 8:58 am
Posted on 4/13/24 at 10:27 am to The Torch
quote:
group called Fuzzy Panda Research
You just can’t make up this up. It’s like they were trying to tell you what they were going to do when they made up this name.
Posted on 4/13/24 at 5:21 pm to The Torch
quote:
This is my employer so we were all a little nervous yesterday.
It looks like this "short seller" put an article out accusing the company of several things.
My question is : How could one person's opinion or story rock an 11 Billion Dollar company that way, seems like someone's arse would be going to jail unless it's true.
That's a classic pump and dump (except in the opposite direction). Fuzzy Panda needs to answer to the SEC.
Posted on 4/14/24 at 9:01 am to TDsngumbo
quote:
Globe Life or their agents and underwriters do not do things by the book.
Globe Life is one of five Insurance Companies held by Torchmark, they re branded to Globe Life when they bought the naming rights to the ballpark.
No one would have know what Torchmark was
The majority of Globe Life's insurance is sold through direct markets without agents, at one time they mailed out 1 million flyers daily.
The Fuzzy Panda article was about American Income Life one of the companies held by Torchmark
This looks like a bunch of teenagers made it "YOUTUBE" : LINK
Posted on 4/14/24 at 10:04 am to The Torch
Posted on 4/14/24 at 6:32 pm to The Torch
quote:
fraud by a group called Fuzzy Panda Research.
Or as we know him by his first name, Peter, ceo AUPH.
Posted on 4/14/24 at 8:58 pm to The Torch
Reminds of Western Alliance Bank (WAL) last March 2023 when Silicon Valley Bank started the chain reaction of bank collapses. WAL went from $75 to $8, and eventually rebounded back to $40-65 in a few months. I wonder if this plays out the same.
Posted on 4/16/24 at 7:46 am to The Torch
quote:
It looks like this "short seller" put an article out accusing the company of several things.
Hasn’t that short seller done this to several stocks? They sound familiar
Posted on 4/16/24 at 7:50 am to deltaland
Reminds me of how that hedge fund guy got on cnbc during the height of covid and predicted the end of the world. His interview literally pushed then market to one of those emergency stops all while he had his people buying up stocks at discount.
I feel like people who manipulate the market through media to enrich themself should be prosecuted.
I feel like people who manipulate the market through media to enrich themself should be prosecuted.
This post was edited on 4/16/24 at 7:51 am
Posted on 4/16/24 at 12:15 pm to The Torch
quote:
How could one person's opinion or story rock an 11 Billion Dollar company that way
Because its more than just an article.
These hit pieces are common, and are usually bought/contracted by hedge funds and other groups under the table to give pretext for a coordinated short attack.
This post was edited on 4/16/24 at 12:16 pm
Posted on 4/16/24 at 2:50 pm to The Baker
Fuzzy Panda's track record is very good and GL already is under DOJ investigation. In addition the unit under fire has been horribly mismanaged for years with dozens of sexual assault charges hostile work etc. If that is true not a big leap to see them committing fraud. Look, being a short seller takes real guts and money because they are very often wrong and their potential for loss is literally infinite. I get it, you may be able to get away with a "wild" short story once, but to do it consistently is very hard. Having said this do not know if GL charges are real or not, and it looks like it will take time to sort out so stock not getting back over $100 anytime soon IMHO.
Posted on 4/16/24 at 8:46 pm to GeauxTigers123
Bill Ackman, but stocks were already down 7% that day before he went on CNBC. He basically said the country should stop for 30 days instead of the 18-month half hearted slowdown that would happen with our current approach. He was pretty emotional but his entire point was the country couldn’t withstand half-assed measures for 18 months and we should just rip the bandaid off and stop for a much smaller window.
He also was 3 trading days away from the bottom. Over the next 3 days stocks fell another 5.4% from his CNBC interview and have since more than doubled.
Ackman is pretty hard to blame for the pain that had already happened in the market, even if he was overboard.
He also was 3 trading days away from the bottom. Over the next 3 days stocks fell another 5.4% from his CNBC interview and have since more than doubled.
Ackman is pretty hard to blame for the pain that had already happened in the market, even if he was overboard.
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