LONDON, March 18 (Reuters) – Investors who are short-selling company securities and harming Britain’s economy in the process should “just stop”, Bank of England Governor Andrew Bailey said on Wednesday as authorities grapple to deal with the coronavirus crisis.
“Anybody who says, ‘I can make a load of money by shorting’ which might not be frankly in the interest of the economy, the interest of the people, just stop doing what you’re doing,” Bailey told BBC News in an interview.
In short-selling, traders borrow a company stock with a view to selling it, hoping to buy it back later at a lower price and pocket the difference. (Reporting by Andy Bruce; editing by Stephen Addison)
Source: Read Full Article