Hi, please forgive my ignorance. I thought that short selling was selling of a stock to repurchase it at a lower price. Is that correct? If not can you please explain it to me?
Yes, You sell shares of a stock at the price it is trading at while you are betting on the price to drop.
You at some point in time must cover it buy purchasing the shares that you sold. If the price dropped, then you make a profit, otherwise you could be looking at a loss. The longer you wait before buying the shares to cover, the more money you pay in interest on what you sold.
ok, i made an acct and put on some trades. possibly chasing and don't like holding over weekends (w/ my irl trading), but i guess i can take on some risk since it's for fun, fake money. rank 9 as of this post so can't be too bad.
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