“The share price of Medallion Financial, which finances the purchase of taxi medallions, plunged 12.52% Monday after the city’s taxi regulator reported the sale price of a medallion without disclosing that only a 50% interest in the medallion changed hands. Two years ago, individual medallions were selling for more than $800,000 and corporate medallions for more than $1 million. Medallion Financial makes money from various other kinds of business loans, but its share price has suffered because of its association with the beleaguered taxi industry, and because of short-sellers trying to take advantage of that.”
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