Vice President of Shanghai Gaojin: There is no “retail hangage agency” in the GME incident.

Zhu Ning, vice president of Shanghai Institute of Advanced Finance and professor of finance of

Shanghai Jiaotong University, said that in this GME incident, the short-selling behavior itself is normal, and there is no phenomenon of

“retail investors making money from institutions” or “retail investors hanging institutions”.

This statement is not only misleading, but also harmful.

Zhu Ning said that more than two-thirds of GME shares are held by institutional investors such as

public offering funds, so it is difficult to say who made a lot of money in the process.