noveldrama
Chapter 517
Chapter 517
?Chapter 517: 192.
Where did Donnie’s funds come from?_2 Chapter 517: 192.
Where did Donnie’s funds come from?_2 “If it weren’t for the news earlier, those 10,000 shares of ABC stock would have already been snapped up by now!”
Owen Young lit a cigarette for himself, then said, “But look now, minutes have passed, and still no one is paying up for ABC’s stock!”
Little Rockefeller didn’t speak, just nodded at Richard Whitney.
Richard Whitney got the hint and murmured a few words to his assistant, who was always ready for his commands.
The assistant left and soon returned.
Standing by the blackboard, Richard Whitney announced loudly, “Fleming Securities is dumping ABC stock, 50,000 shares at $57 per share!”
Clearly, Fleming Securities was one of their hitmen, responsible for shorting ABC’s stock price.
These shares now being sold off were part of the 20 million shares issued by ABC!
“ABC’s stock price is starting to drop, someone bought 1,000 shares of ABC stock at 57 cents a share!”
“It seems someone wants to fish in troubled waters!”
Seeing such a situation, George Whitney and the others were not worried at all.
After all, ABC was the first stock of the United States commercial radio, and although Morgan and other firms were leading the short selling of ABC, there were still people who were hopeful, looking to see if they could catch the bottom.
After receiving notification from his subordinate, Richard Whitney continued writing on the blackboard: “Barry Company is dumping 10,000 shares of ABC, the price has dropped to 55 cents a share!”
“Donnie, if you don’t make your move now, you’ll miss your chance!”
Little Rockefeller looked at Donnie with a smile.
In fact, at this time, Little Rockefeller still harbored some resentment towards Donnie.
All Donnie had to do was clear things up for them, and yet he refused, which greatly displeased Little Rockefeller!
Donnie said nothing, just looked at Richard Whitney.
Just as Richard Whitney was about to inquire about Donnie’s intentions, his subordinate came in again.
“Jesse Livermore has entered the market, buying 59,000 shares of ABC stock!”
“So, this is your trump card, Donnie, trying to use Jesse Livermore’s influence to boost the confidence of investors?”
George Whitney faced Jesse Livermore’s entrance without a hint of worry.
Donnie laughed softly, “You’ve all played so many cards, I have to respond somehow, don’t I?”
George Whitney shook his head, “Donnie, how do you still not understand?
The battle has been fought to this point, and it’s actually beyond saving by any means, unless you can gather enough funds in a short time to possibly win.
Otherwise, this battle’s loss is already a foregone conclusion!”
Donnie smiled, “Maybe I really can gather that much cash?”
“Impossible!”
George Whitney said with certainty, “If we weren’t sure about this, Donnie, do you think we would make our move at this time?”
Ultimately, from the start of Little Rockefeller and others’ preparation for the battle until now, there was only one thing that could really determine the outcome of this fight: whoever had more cash in hand would win the battle!
“We’ve already contacted all the banks in the United States that could offer you such a large sum of cash.
Not a single bank is providing you with a loan, and the profits from your bootlegging have not been fully laundered.
If you were to invest in the stock market at this time…
I believe you wouldn’t be so foolish, Donnie!”
George Whitney continued speaking.
Donnie laughed it off, “Then let’s just wait and see!”
The battle continued.
With Jesse Livermore’s entry, the ABC short-selling war reached another level.
“Donnie Block has responded!”
Inside the trading floor, everyone looked towards Jesse Livermore, who had already settled at his trading seat.
They hadn’t expected Jesse Livermore to enter the market at this time, but after some thought, it seemed only natural, especially since Donnie had previously been shorting Sinclair Oil Corporation with Jesse Livermore’s help at the helm!
“Who would have thought, Jesse Livermore once helped Donnie short Sinclair Oil Corporation, and now he’s helping Donnie to raise the stock price of ABC!”
A trader let out such an exclamation!
“Does Donnie Block really have that much cash on hand?”
Unlike the certainty of George Whitney and others in the lounge, the traders outside were a bit more unsure.
“Impossible, those people who have decided to make a move must have investigated this thoroughly.
If Donnie really had enough cash on hand, they wouldn’t be sitting on their hands doing this kind of thing!”
“Quick, look, they’re making another move!”
Everyone immediately turned their gaze to the big blackboard inside the trading hall, which listed every transaction happening there!
“Barry Company is dumping another 50,000 shares of ABC!”
As this news spread throughout the trading hall, everyone’s gaze returned to Jesse Livermore.
Jesse Livermore seemed indifferent to everyone’s stares, focusing on the transactions on the board, as if contemplating something, and then quickly snapped up those 50,000 shares of ABC stock!
“As expected!”
Seeing such a trade, everyone couldn’t help but exclaim, Donnie was indeed competing with the opposition.
“No need to worry now; the other side is only sporadically selling off ABC’s stock.
As of now, it’s only 110,000 shares, about $60,000 worth of trades.
It’s pretty clear that both sides are still testing each other!”