5 months ago • 13 mins
In the early months of the year, stock markets went a little crazy. Hordes of small investors – organizing through online forums like Reddit – ganged together to deliberately push up the price of GameStop and other out-of-favor companies in order to hurt short sellers who were betting against them.
The narrative became one of the people versus the evil financiers, and plenty of bystanders cheered when Melvin Capital, a New York-based hedge fund, was forced to abandon its short positions on GameStop after racking up billions of dollars of losses.
But why have short sellers – investors who sell borrowed stock hoping they’ll be able to buy it back in future for a lower price and pocket the profit – been painted as somehow “evil”? And do they deserve the hatred that’s been hurled t
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