Contrarian Capital's $47M Bet on Futu Stock Loses Value as Shares Drop Nearly 25%
Contrarian Capital Management made a significant investment in Futu Holdings during Q1, acquiring shares valued at approximately $47 million. However, the fund reported that its position had dropped to around $41.36 million by quarter-end due to share price declines. The stock has underperformed compared to broader market indices like the S&P 500.
Tickers: $FUTU