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Bill Holland, CEO of CI Financial
Bill Holland, CEO of CI Financial
(SIMON HAYTER/The Globe and Mail)

Why CI’s stock slumped on Scotiabank news

Instead of adopting a wait-and-see approach, CI Financial’s investors started running for the exits first thing Thursday morning.

Right after the markets opened, CI’s stock slumped nearly 6 per cent as investors rushed to judgment on the news that Bank of Nova Scotia is looking to “monetize” its 37 per cent stake in the asset manager.