David Kestenbaum

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The online furniture company Wayfair is now one of the most shorted stocks. Our Planet Money team talks to its CEO about what it's like to be running a company when some investors are betting on your fall.

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On January 1, 20 states raise their minimum wage and several states have additional increases planned in the coming months. Yesterday, we learned that Walmart will raise its base pay to $9 an hour this April.

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ROBERT SIEGEL, HOST:

A lot of people buy stocks, hoping they will go up in value. But it is possible to bet in the opposite direction. You can bet against a stock, hoping it will plunge. It's called "shorting" a stock.

Most people don't short stocks, and we wondered why. So we decided to short something ourselves.

We had no idea what to short, or how to do it. So we asked the well-known short seller Andrew Left of Citron Research for advice. He interrupted me before I could finish explaining our plan.

"Don't do it," he said.

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