Market Insights

Israel Probing Short-Selling Before Hamas Attack – Guardian

 

Authorities in Israel are investigating claims by two American law professors who said some investors may have known about Hamas’ plan to attack Israel on October 7 and used that knowledge “to earn millions of dollars by short-selling Israeli shares”, according to a Guardian report on Monday, which cited research by the men who noted that short-selling of an exchange traded fund that broadly tracks the Israeli stock exchange “spiked” dramatically before the attacks, with one saying it was possible that profits from the short-selling could have topped $100 million.

“The Israeli Securities Authority said it was aware of the matter” and that it was being probed by “all the relevant parties”, according to the report, which added that the men’s research found there was an “unusual increase” in “risky” trades just before the attacks. “Our findings suggest that traders informed about the coming attacks profited from these tragic events,” they wrote in a 66-page report.

Read the full report: The Guardian.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

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