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There's nothing wrong with short selling, the long-standing strategy of speculating on a decline in a stock. Nor can short-sellers be faulted for expressing an opinion about a stock, just like any other market participant. But when opinions give way to falsehoods in the name of a personal gain from a stock's decline, that's something the U.S. Securities and Exchange Commission (SEC) calls "short-and-distort," an illegal market manipulation scheme.1
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