From forward thoughts21 Nov 2024 18:08
JP Morgan didn't buy them, it's a cash equity swap to hedge risk.
The share owner doesn't want to sell, suspecting a rise, but fears a further drop in the short term. JP will pick up the cost of further drops in return for their hunch that the share will appreciate, where they get paid the appreciation by the original holder until the contract finishes.
Both parties anticipate the share appreciating, but one party suspects there could be a further drop and is hedging against this without losing ownership of the shares.
That's my take anyway, I see it as a (pragmatic) positive by both parties, but especially JP....