Activist Investor Attacks Diversified, Tries (Fails) to Tank Stock
Ever heard of short selling? It’s a trading strategy of speculating on a stock’s decline in price. According to Investopedia, “In short selling, a position is opened by borrowing shares of a stock, bond, or other asset that the investor believes will decrease in value. The investor then sells these borrowed shares to buyers willing to pay the market price. Before the borrowed shares must be returned, the trader is betting that the price will continue to decline and they can purchase the shares at a lower cost.” A so-called activist investor (we call them corporate raiders) in London called Snowcap Research bought (or borrowed) shares of Diversified Energy’s stock and then issued a 39-page screed claiming Diversified won’t be able to plug the wells it owns and will likely cut its dividend within 12 months. The screed is aimed at forcing the price of Diversified’s stock down so Snowcap can make a profit.
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