Can you make profit off investing in the downfall of a company you hate? I guess I'll find out on Monday. First time I've ever shorted, so I have a -10% stop on it.
$200 on the ADR and $200 on AZN. Wish me luck!
Not meant to be a flex or anything.
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Shorts have a very limited gain, and as we've seen with GME, UNLIMITED LOSS. And then put the small-hats into the mix, and things will find some way to be rigged against you.
I have a automatic close at -10% on each position, I'm not a retarded hedgie.
I'm aware of that risk, I thought about it for a while, but I can't see an attempt to short squeeze on AZN right at the open. Seems very high risk, considering both sides of the equation are filled with speculators and if it goes wrong, you're stuck with a way overvalued stock that no one will ever buy at that price.
I wouldn't be surprised if it opened with me taking the loss instantly at 10-20%, but I'm not expecting anything crazy to happen. I have got the capital to cover it, even if everyone goes full lunatic and it opens at double the price.