During one week in late March 2021, investment banks Goldman Sachs and Morgan Stanley traded on inside information by selling large amounts of iQIYI ADR (IQ) stock based on then publicly undisclosed information obtained through their relationship with troubled multi-billion dollar family office Archegos Capital Management. Both banks avoided billions of dollars of losses by selling before the information was publicly available.

Shares of iQIYI ADR stock fell over 40% during the week of March 22, 2021 to March 29, 2021.

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