How Martin Shkreli used social media to fuel his short-selling shenanigans
Over the last several months, someone using the pseudonym “Art Doyle” released online reports — I use the word “reports” loosely — to attack several biotech stocks. Art Doyle, no doubt a truncation of Arthur Conan Doyle, the British author behind the fictional detective Sherlock Holmes, issued a short thesis around several biotech companies on a third-party blogging website. It was an effort to undermine investor confidence in those companies and profit from an ensuing drop in their stock prices.
The first time I saw something like that was when Martin Shkreli was being wrongfully celebrated as a stock trading wunderkind. for eight counts of wire and securities fraud. He is more infamously known for for life-threatening diseases by 2,000 to 5,000 percent at Retrophin and Turing Pharmaceuticals, two biotech companies he founded after the implosion of his second “hedge fund,” MSMB Capital Management.
