Matt Levine, Columnist

People Dislike Activist Short Selling

Hindenburg, Bridgewater, $25 million law firm partners, bonds pay interest and manure securitization.

July 2, 2024 at 6:12 PM UTC

Corrected

July 2, 2024 at 6:51 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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The basic business model of an activist short seller is:

Obviously some short sellers, sometimes, will deviate from this ideal model. They will investigate a company using nonpublic information, for instance, or their report will be inaccurate. But assuming that they follow the ideal model: Is this okay? Are you allowed to do this?