How Wall Street Brought Down Georgia's Suspicious Chicken Price Index

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It's 2016. Stephanie Strom, a reporter at The New York Times, gets a hot tip from some of her Wall Street contacts. They're big investors, including hedge funds. They tell her that some aggressive investors — they don't say exactly who — have made a big bet against chicken companies. Those investors think chicken companies have grown too fast, and the nation is headed for a glut of chicken. "They were betting that the price of chicken was going to fall," Strom recalls; chicken companies' profits would disappear, and their stock price also would take a hit. These investors had "shorted the stock," Strom says. They'd put big money behind their bet that the stocks of chicken companies like Tyson Foods, Pilgrim's Pride, or Sanderson Farms would fall in...

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How Wall Street Brought Down Georgia's Suspicious Chicken Price Index

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