Tiffany’s Hedge Fund Fallout

Several hedge funds are positioned to be hurt badly by the collapse of the LVMH merger with the luxury goods company.

(Cyril Marcilhacy/Bloomberg)

(Cyril Marcilhacy/Bloomberg)

Hedge funds got rocked by bad news on Wednesday — and this time, it wasn’t the FAANG stocks.

LVMH Moët Hennessy Louis Vuitton SE’s announcement that it is cancelling its deal to acquire Tiffany for $16.2 billion sent shares of Tiffany plunging more than 10 percent at one point — on a day the overall stock market was surging.

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