So basically if I understand it, it’s that they borrow the stock from a broker -> sell stock -> buy back when cheaper -> give back borrowed stock -> profit.
The issue is that the people they sold it to lent it out before they could buy it back, meaning that the stock is now loaned out to two different people despite being one stock, because the whole system is fucking dumb
So the original short seller borrowed the stock, and then lent it to another person who was borrowing the stock, and the second borrower is the one selling it on the market?
So basically if I understand it, it’s that they borrow the stock from a broker -> sell stock -> buy back when cheaper -> give back borrowed stock -> profit.
The issue is that the people they sold it to lent it out before they could buy it back, meaning that the stock is now loaned out to two different people despite being one stock, because the whole system is fucking dumb
So the original short seller borrowed the stock, and then lent it to another person who was borrowing the stock, and the second borrower is the one selling it on the market?