In just 24 hours, the accumulated drop reached nearly 8%, closing any possibility of recovery for the plaintiffs.
Burford's shares plummet after the favorable ruling for Argentina in the YPF trial.
The firm that initiated the lawsuit for the expropriation of YPF has lost about USD 2.5 billion in market capitalization since 2023, following a series of favorable rulings for Argentina in the New York courts.
In just 24 hours, the accumulated drop reached nearly 8%, closing any possibility of recovery for the plaintiffs.
The market value of Burford Capital has entered a total destruction spiral after facing the new national defense doctrine imposed by President Javier Milei.
Since the arrival of the elite technical team led by Sebastián Amerio, accompanied by Juan Ignacio Stampalija, at the Procuración del Tesoro de la Nación (PTN), the English fund's stock has suffered a devastating loss of more than 80% of its value.
What at its peak was valued at a maximum of USD 15.65 now drags a residual value of just USD 4.36. This financial implosion, representing an estimated market capitalization loss of nearly USD 2,500,000,000, has been executed through three lethal blows, known as the “legal sabers” dealt by the Argentine defense:
The start of the panic (October 29, 2025): During the Oral Argument Hearing of the Appeal before the NY Court of Appeals, the strength of the Argentine defense was so overwhelming that Burford's stock began to collapse in real-time. In the following days, the fund lost 20% of its value, falling from USD 11.2 to USD 9.2.
The final blow (March 27, 2026): With the total reversal of the first-instance ruling issued by Judge Loretta Preska, the Court of Appeals annulled the judgment of more than USD 18 billion. The market's response was immediate and brutal: Burford's stock lost 47% in an instant, plummeting from USD 8 to USD 4.20.
The confirmation of the burial (June 2, 2026): The Court of Appeals categorically rejected the extraordinary review request “en banc” filed by the vulture fund. After the resolution signed by Secretary Catherine O’Hagan Wolfe was made public, the stock fell more than 10%, touching USD 4.26.
This stock market crash is a direct reflection of the success of the Javier Milei Government in nullifying the poisoned legacy of Cristina Kirchner, who in 2012 executed an illegal expropriation that led to the largest lawsuit in the history of the United States against a sovereign state.
While in September 2023 Burford boasted a capitalization of USD 3.5 billion, today its value has sunk to USD 809 million.
The president of YPF, Horacio Marín, highlighted that this victory not only saves the country an astronomical sum but also clears the way for growth: “This decision confirms what has already been decided, preventing our country from a payment of 16 billion dollars plus interest.”, he stated.
He added: “For YPF, this is a very relevant chapter because it allows us to consolidate our 4x4 Plan, boost exports, project ourselves towards 2031, and position Argentina as a reliable energy supplier to the world.” With the ratification of judges Denny Chin, José Cabranes, and Beth Robinson, the Argentina of Milei consolidates a historic shift, leaving the vultures in ruin and protecting the assets of all citizens.