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Wall Street Unloads $2.1B ‘Crown Jewel’ Preferred Stock—Because Who Needs Equity When You’ve Got Hype?
Wall Street Unloads $2.1B ‘Crown Jewel’ Preferred Stock—Because Who Needs Equity When You’ve Got Hype?
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Another day, another billion-dollar financial sleight of hand. This time? A ‘crown jewel’ preferred stock dump—because ordinary shares just don’t dilute shareholder value fast enough.
Preferred stock: The financial equivalent of a participation trophy. Pays dividends, skips the voting rights, and lets institutions pretend they’re ‘conservative’ while chasing yield like the rest of us.
And at $2.1 billion? That’s not a strategy—that’s a liquidity event dressed up as a press release. But hey, if the market’s buying, keep selling. Just don’t call it innovation.
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