Credit Suisse Dumping Huge Archegos Blocks, Selling Millions In VIACS, VIPS And FTCH Literally moments ago we said that the Archegos portoflio was being sold off all day on fears of "stealth" prime broker deleveraging, as tens of millions of shares were yet to be accounted for. Then, moments after 5pm, Credit Suisse - the firm that was hammered the hardest by the Archegos implosion and which had yet to provide a detailed breakdown of its Bill Hwang-linked P&L - confirmed what we said, when it unveiled a massive secondary offering dump, including shares of VIACA, VIPS and FTCH. As shown in the block notice below, Credit Suisse hopes to sell its remaining holdings in VIAC at $41-$42.75; its VIPS at $28.50-$29.50 and its FTCH at $47.50-$49.25. While it is unclear what losses the Swiss bank is taking on these final unwinds, it's safe to say that they are in the billions. Naturally, the shares puked after the close, with VIACA... ... VipShop... ... and Farfetch all tumbling... ... but the good news is that with this final secondary dump, Credit Suisse will have no more to sell, and with all other Prime Brokers supposedly in the clear, the move higher in the hammered Archegos shares can finally resume. Tyler Durden Mon, 04/05/2021 - 17:18