Short Sellers Not So Smart?
May 16, 2005 - Short Selling
In their May 2005 draft paper entitled “Do Short Sale Transactions Precede Bad News Events?”, Holger Daske, Scott Richardson and Irem Tuna challenge prior research that found short sellers are especially sophisticated and beat bad news to the market. By studying very recent short sale transactions for 3,651 securities on the New York Stock Exchange from April 2004 through February 2005, they find that: Keep Reading