Next up: Those hedge funds eyeing the $2B convertible notes. Their playbook? Go long on the convertible, then short the common stock to delta hedge Boom, price gets dragged down, conversion premium shrinks, and they lock in fat advantages. Yesterday's pressure? Textbook hedge
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Next up: Those hedge funds eyeing the $2B convertible notes. Their playbook? Go long on the convertible, then short the common stock to delta hedge Boom, price gets dragged down, conversion premium shrinks, and they lock in fat advantages. Yesterday's pressure? Textbook hedge