Jefferies' stock is getting crushed today in a sickening manner, and shares were briefly halted from trading earlier, according to BusinessInsider. Around 10 a.m. it was down 20%, trading at around $9.79 per share.
UPDATE: The stock has made a comeback - it's now trading at $11.55, down 6%.
Jefferies has just released a statement stating that their $2.684 billion exposure to Europe is offset by $2.585 billion in short positions.
The "combined net short exposure of approximately $38 million equals approximately 1% of Jefferies’ shareholders’ equity," which isn't impacting to shareholders, the statement reads.
The company's short position is for Spanish debt, but the key question is what kinds of debt make up that position, according to Bloomberg TV...
Find out more at http://www.businessinsider.com/and-now-jefferies-stock-is-falling-2011-11
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