4 ms·
That's not quite what the issue was. The Short Sellers sold short more shares than existed, but that's allowed. Essentially they borrowed a share, sold it, th
by Alupis 6y ago
That's not quite what the issue was.
The Short Sellers sold short more shares than existed, but that's allowed.
Essentially they borrowed a share, sold it, then borrowed that same share again, sold again, repeat etc. I believe it was up to 140% the float at one point.
Why that's allowed... I have no idea.