Man Who Lost More Than $100,000 By Short-Selling Stock Ends His GoFundMe Campaign

KaloBios Short Selling

Joe Campbell, an amateur stock trader, went to bed with $37,000 in his online brokerage account and woke up with a bill for $100,000 owed to ETrade, has ended his online plea for help.

Campbell was playing the stock market in the hopes of short-selling a pharmaceutical company called KaloBio, when overnight its shares exploded, after notorious hedge fund manager, Martin Shkreli, purchased a majority interest in the company.

KaloBios shares surged from $2 to $16 overnight. Because Campbell had bet against the company, his ETrade account not only went to zero, but he was on the hook for an additional $106,445.56.

Campbell started a GoFundMe page to fix his financial situation, but only days after it launched, and raised just over $5,000, he called off the campaign.

Here is the note he left after ending the GoFundMe campaign:

GoFundMe Campaign for short selling a stock

KaloBios had laid-off 17 employees and was preparing to wind down operations before Martin Shkreli swooped in to save the company.

You will likely remember Shkreli as the man who purchased a drug used to help aid patients and then promptly increased its price by 5,000%.