

I’m not certain that’s true. Even if he knew it was bullshit at some point. If you surround yourself with bullshit you stop being able to smell it.
You can come to believe a lie you tell yourself long enough and hard enough. He is surrounded by enablers who are also lying to themselves.
It doesn’t matter what he believes. He does need consequences.
That is a very specific and unusual circumstance.
Shorts have to be bought back after the term. You borrow it, sell it, and buy it back after so much time and give it back to the lender. You think the stock is shit so when you buy it back it will be lower cost than what you sold for and you keep the difference.
Too many shorts all at the same time and now everyone is buying it back and driving up the price, but that just rarely happens, and when it does happen it will work itself out in a few days or weeks.