Short-sellers have driven big losses in the favorite stocks of South Korean retail investors this month, piggybacking on a campaign by local regulators to rein in the power of Kakao Corp. and other internet giants.
Kakao, the operator of Korea’s most-used messenger app, is the most-shorted stock in September as lawmakers voiced concerns over its market dominance -- a move that has drawn comparisons with China’s crackdowns. It has plunged more than 20%, losing $14 billion in market value amid selling by institutional investors, even as it is the most-bought name by day traders.
"Short" - Google News
September 19, 2021 at 04:00AM
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Short-Sellers Are Beating Day Traders in Korea's Tech Crackdown - Bloomberg
"Short" - Google News
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