Short selling gamestop stock wasn't really hurting gamestop directly. That company is a dog with a dying business model. This massive runup of stock price isn't going to save the company either.
Short selling gamestop stock wasn't really hurting gamestop directly. That company is a dog with a dying business model. This massive runup of stock price isn't going to save the company either.
Short selling does hurt them when the hedge funds push a stock down to meet their position. Game stop is crap and failing, but when external suits intentionally and very publicly manipulate and advocate for a lower price, it does drive it lower, inhibiting the companies ability to borrow against it.
Apparently Elon musk had the same issue with the same folks with TSLA. Sounds like he was having to fight these soles while also trying to run a company....
Short selling does hurt them when the hedge funds push a stock down to meet their position. Game stop is crap and failing, but when external suits intentionally and very publicly manipulate and advocate for a lower price, it does drive it lower, inhibiting the companies ability to borrow against it.
Apparently Elon musk had the same issue with the same folks with TSLA. Sounds like he was having to fight these soles while also trying to run a company....
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