The New York Times writes that "there is something discomfiting about the idea of getting fantastically rich off someone else’s misfortune, which is what happens when a 'short' trade - or bet against a stock or industry - succeeds … But on Wall Street, such brazenness is celebrated. Investors love little more than a contrarian bet that pays off, a combination of math and seeming magic that allows them to find a market disruption before everyone else and score a big win."
The Times explains that one sector in which such bets are being made - and are paying off - is the mall business, where the combination of "e-commerce, changing consumer habits and evolving demographics," accelerated by the pandemic, "had pummeled all malls to some degree in recent years," though "some were far worse off than others."
By betting on their demise, some believed, they "could profit handsomely."
They were right.
You can read the story here.