this post was submitted on 20 Dec 2023
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chapotraphouse
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Nah it even theoretically benefits the market's information/price discovery in capitalist theory. "Activist short sellers" stand to make a lot of money by exposing unknown true negative information about a company. Straight-up lying is prohibited as securities fraud, and ultimately if you publicize something untrue or unimportant ("woke" accusations) the price will return to normal as the market recognizes the information was BS. So there's a bunch of firms that essentially exist to scrutinize the finances and activities of other companies, and if their "audit" finds a problem they get paid and offender gets punished.
(The line between straight-up fraud and overenthusiastic PR for fluff is not clear.)