While Major Indexes are Higher, Someone is Selling Massive Blocks of Stocks

(Updated - March 26, 2021 1:26 PM EDT)

While the major averages are higher, underneath the markets some funny things are going on. Today traders are taking note of a massive number of block trades in some Chinese and other high flying stocks:

There are rumors suggesting it could be Chinese or another foreign seller.

Below are the block trades being noted today:

• Baidu (NASDAQ: BIDU) Block of 10M Shares is Said Offered Bia Goldman Sachs - Bloomberg
• Tencent Music (NYSE: TME) Block of 50M Shares is Said Offered Via Goldman - Bloomberg
• Vipshop Holdings (NASDAQ: VIPS) Block of 32M Shares Said Offered Via Goldman - Bloomberg
• Discovery (NASDAQ: DISCA) Block of 16M Shares is Said Offered Intraday - Bloomberg
• Discovery (NASDAQ: DISCK) Block of 32M Class C Shares is Said Offered Intraday - Bloomberg
• Farfetch Limited (NYSE: FTCH) Block of 26M Shares is Said Offered Intraday - Bloomberg
• Shopify (NYSE: SHOP) Block of 762K Shares is Said Offered Intraday - Bloomberg
• ViacomCBS (NASDAQ: VIAC) on watch as 35 million shares block said offered.
• iQIYI, Inc. (NASDAQ: IQ) rumor large block for sale

Update 1:18PM: Discovery (Nasdaq: DISCA, DISCB, DISCK) today announced that today's trading activity is not the result of insider transactions or transactions by Advance/Newhouse Programming Partnership or its affiliates.

Update 1:22PM: Traders note that the only holder that owned that much FTCH stock is Kadi Group, a subsidiary of JD.com (Nasdaq: JD). In the other stocks, traders note that Morgan Stanley showed up on many of the names as being a large holder. MS likely held the stock for an unknown investor.

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