E-Trade will do that, but they will freeze $2-3 of the cash in your account PER SHARE of ECOB that you sell naked. So, if you have 5 million shares of ECOB caught in the reverse split, E-Trade is going to want to freeze 10-15 million dollars of cash in your brokerage account to allow you to do a naked sale of 5 million shares of ECOB while it still has most of its value left.
Of course, we all have a spare 10-15 million dollars sitting in our brokerage accounts, right? (Can you taste the sarcasm?)
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