CEO Describes What It’s Like When Investors Bet Against You by David Kestenbaum NPR.org
The online furniture company Wayfair is now one of the most shorted stocks. Our Planet Money team talks to its CEO about what it’s like to be running a company when some investors are betting on your fall.
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Our Planet Money team has been looking into the world of short selling. Shorting a stock is the opposite of buying a stock. It’s a bet that the stock will drop in value. In previous stories, we heard from some well-known short-sellers who were betting against companies. Today, we hear what it’s like on the other side. David Kestenbaum talked with the CEO of one of the most shorted companies in America.
DAVID KESTENBAUM, BYLINE: Last month, we did a story listing the top 10 most shorted companies. We reached out to a few on the list to see if their CEOs wanted to talk. We either did not hear back or got a polite no, thank you. But after the story aired, we heard from a listener who worked at one of the companies. Would your CEO be willing to talk, we asked. The answer was yes.
Just say name and title.
NIRAJ SHAH: I’m Niraj Shah, the CEO co-founder of Wayfair.
KESTENBAUM: Wayfair sells something online that a lot of people are used to buying in stores – furniture. You may have seen the ads.
Full transcript via NPR.org