Naked Short Stock Sales video special.
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1 comment:
Take the SHO list, what a joke. Why doesn't the SEC force short sale
covering like it is supposed to? If you short a stock you have to buy
back in with in 3 days, that is what is supposed to happen and what I or
any other retail investor is forced to do. But we have tons of stocks
that are on the SHO list which means more than $50,000 worth of stock is
sold short and not covered for 13 days. Even after the stock is on the
SHO list there is not a forced buy back. HFBV is a recent example. The
stock was trading at .004 when it was shorted over 12.5 million shares,
no biggie. Then they hired a new CEO and it ran up to .03. It has been
on the SHO since 4-31 almost 13 days since it ran up. Since then it has
been slowly drifting back down and is around .015 right now and still on
the SHO. What will happen is it will be pounded down on small trades
for the next couple of weeks until it gets low enough for the short
sellers to cover without a loss. BTW, the retail investors can not
short a penny stock like this, they are not allowed too. So all the
retail investor who bought this on the run up will be screwed and the
fat cat will not loose anything. What should have happened is whoever
shorted the stock should have been forced to buy back within 3 days
which would have made the price jump even higher. What will happen is
after the price is dropped the shorter will cover, maybe at a small loss
and that is it. No forced buy back, no fine, no trading restrictions,
no penalty at all. Mean while hundreds of retail investors who bought
this stock to hold because they like the company and the new CEO get
screwed when they should have been making money. While I have been
typing this the share price has dropped from .015 to .0125 and going
lower. The company has put out 3 PRs since the run up with two of them
being new distribution deals which should have sent the share price up
higher except for market manipulation.
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