This is the same thing that happened to TOYS R US, folks - remember? Hedge funds *cause* businesses to fail so their shorts pay out. It's not strictly illegal, but it's a gigantic scam and the reality behind MOST of the "retail is dying because you bought a TV on Amazon" B.S.https://twitter.com/ashleylynch/status/1355057144744144898 …
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It is the same system, but I mean - Toys R Us and Gamestop were very clearly both businesses whose model was collapsing around them. And usually a buyout spikes a stock price, so the shorts would have gotten burned when TRU went to Bain.
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Plus, I mean, Bain makes their management fees either way, but they would definitely make MORE money if Toys R Us was successful and they were able to take it public again. Their incentives are different (and more risky) but they weren't trying to kill it.
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