…I know this because I’ve lived it. In 2004, the stock price of my company rose dramatically — but that drew over $1 billion in short positions and led to a highly-coordinated public relations and legal campaign against our company. Within months, press that ignored us began assailing us. We were sued over 100 times, and a federal government investigation was triggered that alarmed both our shareholders and customers causing real damage.
Short sellers nearly destroyed our business, because doing so was lucrative for them. We survived by the skin of our teeth, and that experience showed me the lengths to which short sellers will go to influence the market — not just predict its moves.I Run A Public Company. Short Sellers Attacked Us Years Ago. Here’s Why I Stand With Reddit’s WallStreetBets.