This article appears in the June 2021 issue of Advisor’s Edge
When the Canadian Securities Administrators decided to tackle activist short-selling late last year, it was already a thorny topic with the potential to cross over into debates about how information is shared online and even free speech.
Then came the GameStop saga. Retail investors’ surprising demonstration of might earlier this year inflicted huge losses on hedge funds shorting the brick-and-mortar video game retailer, pushing the company’s shares to improbable heights. Investors also showed they can organize online and respond to information in unpredictable ways that have disorienting effects on financial markets.
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