Short seller’s morning tweet seems to sink shares of two Canadian companies

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After of a sell-off of shares in two Canadian companies was apparently triggered by a short seller’s morning tweet, Desautels professor Ken Lester derided the tweet, saying that “There’s no recourse. People can just put out whatever they want on the Internet.”

He goes on to say that there is a general uncertainty about Canadian financial firms, thanks in large part to the legal problems faced by Home Capital Group.

The market is definitely jittery, but trading based on rumour is hardly unheard of, according to a piece in the Financial Post.

Read more in the Financial Post