Lost to GameStop, CEO of Citron Research, calls online community creator
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(New York = Yonhap News) Correspondent Il-Hwan Ko = The fact that a representative of a hedge fund, called the’Legend of Short Selling’ on Wall Street in the United States, has been belatedly revealed that he requested help from the ant corps manager.
According to the Wall Street Journal (WSJ) on the 28th (local time), Citron Research CEO Andrew Left called Jaime Lagerginsky, the creator of the online community Reddit’s’Wall Streetbets’ discussion room last week.
Mr. Left begged “Please help”, introducing the fact that some investors, angry with the big losses, threatened even their children.
Representative Left is an investor specializing in short selling and is nicknamed’Wall Street’s bounty hunter’.
Left made big profits by publicly betting on a decline in stock prices after pointing out companies that had problems with their business among the companies included in the Standard & Poor’s (S&P) 500 index, mainly for mid- to large-cap stocks.
In 2019, an African online commerce company listed on the New York Stock Exchange (NYSE) alleged that there was a problem with the listing documents and cut the stock price in half in a week.In 2015, Valiant Pharmaceuticals discovered accounting fraud and raised the stock price by 90 Dropped more than %.
He recently announced a short sale that the stock price of GameStop, whose business outlook is uncertain, will go down, but this time he ran into a wall of individual investors, mainly in the Wall Streetbets discussion room.
He eventually lost 100% of the money invested in the short sale and removed his hand from GameStop stocks, but he was not able to calm the anger of investors who lost money because of him.
But Lagerginsky, who opened the Wall Streetbets discussion room on stocks in 2012, was heartbreaking, but told WSJ that there was nothing he could do.
Lagerjinsky resigned from the managerial role in April due to conflicts with other members of the forum.
“In the past, hedge fund representatives fighting over short selling felt like watching a boxing match, but threatening investors’ families is crossing the line,” Lagerjinsky said.
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2021/01/29 01:57 sent