Nostr

Despite all this, and vast unfunded liabilities - like remediating the population-destroying lead in their cables - they remain solvent:

https://www.reuters.com/legal/government/verizon-sued-by-investors-over-lead-cables-environmental-statements-2023-08-02/

Verizon has remained irrational longer than any short seller could remain solvent.

Short-sellers - who bet against companies and get paid when their stock prices go down - get a bad rap.

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Cory Doctorow 2y ago

Billionaire shorts were the villains of the #Gamestop squeeze, accused running negative PR campaigns against beloved firms to drive them under and pay their bets off:

https://pluralistic.net/2021/01/30/meme-stocks/#stockstonks

But shorts can do the lord's work. Writing for *Bloomberg*, #KathyBurton tells of #NateAnderson, whose #HindenburgResesearch cost some of the world's wealthiest people over $99b by publishing investigative reports on their balance-sheet shell-games just this year:

https://www.bloomberg.com/news/features/2023-08-06/how-much-did-hindenburg-make-from-shorting-adani-dorsey-icahn

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Cory Doctorow 2y ago

Anderson started off trying to earn a living as a #SEC whistleblower, identifying financial shenanigans and collecting the bounties on offer, but that didn't pan out. So he turned his forensic research skills to preparing mediagenic, viral reports on the scams underpinning the financial boasts of giant companies...after taking a short position in them.

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