Uber Short-Sellers Raked in $270 Million USD Profit Following Massive Stock Drop

On Tuesday, Uber's shares fell 9.85 percent following the announcement of its disappointing third quarter earnings results. One category that greatly benefited from this record-low number was short-sellers - essentially, investors who bet against a specific company, thus making a profit when its share prices decline. According to Barron's, in a reversal from the typical goal of buying shares low and selling high, short-sellers "borrow shares to sell first, hoping to buy the stock at a lower pric...