this post was submitted on 22 Nov 2023
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it's a weird one but behind all of the smoke and mirrors, it's a group of investors who are closely following the Bed Bath & Beyond (BBBY) bankruptcy.
We've been watching as hedge funds have conjured up billions of shares (many more than actually exist) and sold them all to drive the price down. This (illegal) practice is called naked shorting, and it's how a popular household name has been forced into bankruptcy.
Still, bankruptcy is a process and the story's not over yet.
Huh, interesting.
You may find some interest in https://WhyDRS.org and https://marketliteracy.org.