#ForexChief #Carnival #stocks #SouthKorea #forexnews #NYSE #BakerHughes #worldnews #WarnerBrosDiscovery⠀
⚠️ A major player is dumping Carnival shares. What does he buy?⠀
👉 National Pension fund of South Korea, one of the largest in the world, is reforming its portfolio globally. Serious changes have affected investments in US stocks: the fund sold a large stake in
Carnival (NYSE; CCL) and buys
Snap (NYSE; SNAP), and
Warner Bros Discovery. (NYSE; WBD) and
Baker Hughes (NYSE; BKR).
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South Korea's National Pension Service has ditched investment in cruise giant Carnival and is upping the ante with Warner Bros.'s media company Snapchat. and oilfield services company Baker Hughes. What a wide range of interests! The fund's analysts are likely to assume that consumers will travel less, but spend more time on multimedia entertainment.
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The office of the South Korean Minister of Health and Welfare, which oversees pensions, declined to comment on the adjustment of the investment structure. According to the Sovereign Wealth Fund, the South Korean Pension Fund manages public and private assets of approximately $680 billion (as of September 30), but no one knows the real amount of capital controlled by this organization - this is classified information. But even a preliminary assessment of the size of assets makes this fund the fifth largest public investment player in the world.
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The situation is additionally interesting in that we are witnessing a classic picture of the market influence of a major player on the exchange price. So, at the end of June, National Pension owned 1.4 million shares of Carnival, but now things are really going badly for this company. Shares depreciated 65% in 9M 2022 and then fell again in mid-November after a private sale of $1 billion in debt. Despite the fact that the price recovered 26% from the low in Q4, it is only logical that by October 1, the fund completely got rid of these papers.
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But it is worth paying attention to his current investments − the fund's analysts clearly know something.
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Profits to y’all!