US professors from New York and Columbia University analyzed transactions on the Tel Aviv Stock Exchange before Hamas’ missile attack on Israel in October 2023 and concluded that some traders were aware of the impending attack and made hundreds of millions of dollars in the process . reported by Reuters.
In the days before the attack, open interest in Israeli stocks and options rose sharply, according to researchers. This made it possible to make a profit of $ 862 million on shares of the country’s largest bank, Leumi, after the market crash.
“Our results show that traders who were aware of impending attacks took advantage of these tragic events, and consistent with previous literature, we show that such trading occurs due to loopholes in the United States and the enforcement of international legal prohibitions on informed trading.” – quotes from the publication authors of the study.
According to economists, this behavior of traders indicates the use of confidential information about an impending attack. A similar increase in short positions was seen in April, when the first reports emerged that Hamas was planning to attack Israel.
Possible illicit trading using insider information was brought under control by the Israeli regulatory authority. Police are also investigating.
It was at the end of November sort of Norway’s gains from the Ukraine conflict.
St. Previous message regarding the bankruptcy of the St. Petersburg Stock Exchange in the name fake.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.