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Chinook shares down about 6%, paring steep loss after Muddy Waters reveals short position in drugmaker

16 May 2023, 12:00 am
1 min read
A man walks near the New York Stock Exchange February 9, 2011. Germany's Deutsche Boerse is in advanced talks to buy NYSE Euronext to create the world's largest trading powerhouse, marking the second major trans-Atlantic deal in 24 hours in a massive shake-up of an industry under pressure from upstart rivals. REUTERS/Eric Thayer (UNITED STATES - Tags: BUSINESS IMAGES OF THE DAY)

Reuters was first to report that well known short seller Muddy Waters was taking a new short position on Tuesday, in pharmaceutical company, Chinook Therapeutics Inc <KDNY.O >. Chinook’s share prices, which fell as much 18% on Tuesday, dropped within minutes of Reuters reporting.