egan1 : keep buying shares, I'll keep selling em to ya.

egan1 EZ_money: im still up 20% started selling at $17

egan1OP Tonyco: what? im betting on a mining company losing value I expected a dip in Bitcoin... i also expected a drop in mining company revenue both of which have happened.

egan1 : this has been a good short sale

egan1 : it can only go down another 100%

egan1OP GNRForever: short sellers are a positive thing for markets over all they help prevent the formation of bubbles, catch fraud faster than regulators and we sell when the company has no trouble raising capital and buy shares later down the line when many investors are unwilling to leading to lower volatility in markets. and yes i am betting on worse financial performance next quarter as their cost of revenue just got a 25% increase... its a pretty basic trade all things considered.

egan1OP GNRForever: first markets are forward looking and we are going to get guidance on q2 next earnings call. and second even if we sold every single share multiple times and pushed it to 0 the company wouldn't go under... we don't control how the company does. We can't force a company into bankruptcy the only time short sellers have any effect on the health of the company is when it's already in such rough shape we make it difficult to raise capital and they go under bc they couldn't get new debt to pay off old debt. once the shares are sold the price has little effect on the health of the company, fundamentals, however, do and miners have bad fundamentals across the board. also electricity cost is not my concern it's depreciation and amortization of the ASICs on their balance sheet.

egan1OP GNRForever: they tried and failed is exactly my point. they literally cannot bankrupt a company by selling shares.... they would benefit if that happened but you wouldn't say a long investor is keeping a company alive would you? like how can you say that its bad for short sellers to advertise their positions but long investor do the same thing by trying to prop up wework plug power whatever bullshit scam company all the time.

egan1OP GNRForever: i mean TODAY we saw meta beat estimates and they're down 11% after hours bc they gave bad guidance. lmao you have very little experience with the market if you think like that.

egan1OP : the share price has no impact on the company's health. idk what you don't understand about that. short sellers have exposed many frauds like Nikola, carl icon and the adani group. saving investors billions. they sell at the top and buy at the bottom decreasing volatility and help stop bubbles like in 2008. this isn't an opinion there's lots of research into this and why it should remain legal.

egan1OP GNRForever: I mean just look at the graph and compare it to the stock performance of these companies, they are very correlated. I think a drop is a likely scenario. they don't make money. The underperformance compared to Bitcoin over the last year and the short interest show that investors are getting tired of always being 1 quarter away from gaap profitability. they didn't make money during the bull run of 2021 and they won't make money now especially with block rewards down from then.

egan1OP GNRForever: because a gold mine doesn't have their production slashed by 1/2 and they don't need to buy new shovels every 2 years. there is no barrier to entry in btc mining and the market is as close to perfect competition you can possibly get in the real world. firms in perfect competition have an avg expected profit of exactly $0.

egan1OP GNRForever: haven't seen btc go up yet since the 1/2ing and it would still need to hit 120k for them to lose the same $50 mil they did last year.