When shorting goes wrong as in a short squeeze, which did happen 2 years ago involving a US company, called Gamestop, it can be very painful or terminal for the shorters (Melvin Capital in its shorting of Gamestop). Conversely, if it goes right, it can also be very profitable.
A naked short, with no underlying shareholdings, can potentially result in horrendous losses or the liquidation of the shorter.
For more info on short selling and short squeeze, click below:
https://en.wikipedia.org/wiki/GameStop_short_squeeze#:~:text=Purchasing%20the%20stock%20to%20cover,jump%20of%20the%20share%20price.
https://www.investopedia.com/short-sellers-lose-usd5-05-billion-in-bet-against-gamestop-5097616
When shorting goes wrong as in a short squeeze, which did happen...
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