I completely disagree. A company with a solid balance sheet isn't going to be destroyed from short sellers. A healthy balance sheet gives them ability to obtain financing and they aren't solely relying on their stock price. The only companies that are going to be destroyed from short selling are companies that have a damn shaky balance sheet to begin with. And it so those shitty financials of the company that are causing to to be shorted or basically bet against that their stock is on the way down. Those companies put themselves in that position, it wasn't the stock price that put them there.
A further point, so the reddit group is saying FU to the investment community for seeing the writing on the wall of a company on it's way down, and basically rewarding the higher ups of "game-stop" (in this case) for doing a shitty job running the company and driving it into the ground. Basically they just made a an already rich CEO of gamestop (whom is doing a shitty job) a much wealthier person. That makes a bunch of sense...............everyone knows the higher ups of these companies have a significant amount of company shares which are normally part of their compensation package. If was the CEO of game-stop, I would've cashed out and sailed into the sunset.
I'll note one more disclaimer, I don't play the margins, I don't have the stomach or aptitude for it so again, I have absolutely no horse it this race. I just think the irony of the reddit movement is completely hypocritical.