Yes, this is why it is so easy for shorts to scare retail investors and steal their money. It’s like waiting down hill for the water to flow... it’s easy to predict certain events from the nature of this particular type of endeavor and then to scare the newbies and neophytes by convincing them that the reason for the completely predictable circumstances is due to nefarious managers. That’s why they rarely attack the scientists or the science directly. That’s not their strongest suit. They may create confusion with the trial, as that is a regulated process and can be confusing... but attacking managers, alleging nefarious motives, taking previously disclosed materials and reporting them like they are newly discovered scandals, all of this unfortunately works for short hedge funds. They basically view their job as scaring the children and stealing their candy. It’s kind of an easy job, unfortunately and does not require real risk taking since dilution and regular returns to the markets to raise funds are a given. They just need to be a little clever and keep at it for years, pay some med school students and articulate young doctors in overseas markets looking for spare income, and some get good at the kind of trolling they need. I would not be surprised if some funds don’t have a black book of such “resources” offshore to exploit. Sign them up to a scary non-disclosure agreement, or let them know you’re the Russian mob and you know what to do with people who blab and bingo, it’s an easy job...
I seriously believe that these people are a mix of short traders who know very little and ride along and act as a choir, and serious fund managers, including people who manage “small” family offices/funds, as well as some really nefarious types offshore. There is, unfortunately, a lot of money, over time, that can be made from these scams, that dress themselves up as “investor advocates”... which also makes them difficult to prosecute...
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