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Who said 17 billion, most of the estimates are in the 700 million to billion range.
But Stock barber just said that the brokerage house dosen't have a problem with margin...
Who keeps bringing that up?
https://finance.yahoo.com/news/end-naked-short-selling-230100677.html
"What makes the September ruling so impactful is this: Without the big banks and financial institutions’ complicity, this highly destructive form of naked short selling could never happen. Instead, they actively facilitate the destruction of shareholder value.
The reason some big banks allow it, despite their sizable compliance departments, appears quite simple: These illegal transactions are highly lucrative. The short-term windfall profits associated with the creation of counterfeit shares are too tempting to resist."
“[...] brokers will place a marker or pledge to deliver the shares on the investors’ accounts, which are made by the seller’s clearing firm”, Barkley explains. “Abusive and unchecked naked shorting can lead to a loss of shareholder rights, including disenfranchisement by overvoting and the resulting throwing out of votes by brokers to conceal the breadth of the naked shorting problem, which could also lead to fraudulent vote results orchestrated by broker-dealers instead of shareholders.”
It often goes well beyond “ghost” shares, too. The most nefarious of short sellers target companies with negative reports–sometimes with legitimate information, and sometimes with falsehoods or half-truths–to drive down share prices with maximum impact, thus ensuring that the companies lose their ability to obtain financing. Once that process is completed, naked shorters then begin to offer those same companies alternative financing (predatory debt), which they have no option but to accept."
That last sentence sounds mighty familiar dosen't it...
If the only one that can illegally naked short sell is the brokerages, than why keep bringing up the 2.50 share margin?
And if the brokerage can never get a margin call on naked short sells, than why are we told naked short selling dosen't happen if your insinuating it's basically risk free?
https://finance.yahoo.com/news/end-naked-short-selling-230100677.html
"What makes the September ruling so impactful is this: Without the big banks and financial institutions’ complicity, this highly destructive form of naked short selling could never happen. Instead, they actively facilitate the destruction of shareholder value.
The reason some big banks allow it, despite their sizable compliance departments, appears quite simple: These illegal transactions are highly lucrative. The short-term windfall profits associated with the creation of counterfeit shares are too tempting to resist."
“[...] brokers will place a marker or pledge to deliver the shares on the investors’ accounts, which are made by the seller’s clearing firm”, Barkley explains. “Abusive and unchecked naked shorting can lead to a loss of shareholder rights, including disenfranchisement by overvoting and the resulting throwing out of votes by brokers to conceal the breadth of the naked shorting problem, which could also lead to fraudulent vote results orchestrated by broker-dealers instead of shareholders.”
It often goes well beyond “ghost” shares, too. The most nefarious of short sellers target companies with negative reports–sometimes with legitimate information, and sometimes with falsehoods or half-truths–to drive down share prices with maximum impact, thus ensuring that the companies lose their ability to obtain financing. Once that process is completed, naked shorters then begin to offer those same companies alternative financing (predatory debt), which they have no option but to accept."
That last sentence sounds mighty familiar dosen't it...
any shorter would have got a margine call a ling time ago.
Uhhh I do know that, I thought you were saying they are able to pull that money out before actually closing the position.
10,000 percent refers to the move from lows to high after CE removal, it's not necessarily from whatever the average is they naked shorted at.
Also I wonder why you and DJponder happen to tag team bash a lot of other stocks as well? Do you two know each other? You two just happen to tag team bash the same stocks?
Wait so are you trying to say that one can naked short a stock and immediately have access to that money? Without any obligation to close out the position?
They can't access those fund until the position is closed out or the company reverse splits or goes under.
For a naked short to make money they have to either cover the position lower than where they bought it, the company has to reverse split or ideally go bankrupt/revoked. Now which class of companies tend to have most reverse splits/bankruptcies and revocations? Why it's here on the OTC.
https://www.zerohedge.com/markets/end-naked-short-selling
"Additionally, the SEC notes:
Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on the settlement day following the settlement date for short sale fails, or no later than at the beginning of trading hours on the third settlement day following the settlement date for long sale fails, and fails attributable to bona fide market making (“close out date”). If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on the applicable close-out date, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security.
However, as Barkley points out, the SEC does not publish FTDs (failures-to-deliver) of U.S.-issued securities traded and settled abroad (including Canada). This means a significant number of FTDs are never accounted for, essentially creating a naked free-for-all.
Last year, UBS Securities LLC conceded to having failed to close out an astounding 5,300 FTDs in the previous decade, yet still kept executing new short sales in the tens of thousands.
“This is naked shorting and FTD abuse on a significant scale, likely involving many billions of dollars,” Barkley writes. "
Wash trades by the crooks.
https://www.zerohedge.com/markets/end-naked-short-selling
"Additionally, the SEC notes:
Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on the settlement day following the settlement date for short sale fails, or no later than at the beginning of trading hours on the third settlement day following the settlement date for long sale fails, and fails attributable to bona fide market making (“close out date”). If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on the applicable close-out date, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security.
However, as Barkley points out, the SEC does not publish FTDs (failures-to-deliver) of U.S.-issued securities traded and settled abroad (including Canada). This means a significant number of FTDs are never accounted for, essentially creating a naked free-for-all.
Last year, UBS Securities LLC conceded to having failed to close out an astounding 5,300 FTDs in the previous decade, yet still kept executing new short sales in the tens of thousands.
“This is naked shorting and FTD abuse on a significant scale, likely involving many billions of dollars,” Barkley writes. "
Better stick to beer pong and toga parties….
China has it's corruption no doubt just like everywhere else, but china would never allow the kind of crap we see with the settlement system and naked short selling. One of the big reasons the west is in decline, destroys innovation, jobs and lives. And all the wealth get siphoned offshore to people who contribute absolutely nothing.
Only in North America and Europe can these scumbags do these crimes for so long, in China they would have been gone long ago.
It's nice to see the true nature of the naked short boiler crew come threw, say hi to your mole inside the SEC for me. 😉
Get a grip, you mentally challenged person.
It's not about the number of posts, but the content of the posts. And by the way Pink has less posts then our resident bashers, and Pink is actually a shareholder...
It's strange why is a Canadian citizen asking DBMM shareholders to message company management, to strike a deal with an American securities agency?
Yah no naked shorts, just a bunch of retirees and good samaratins who all managed to stumble onto the DBMM board... 😅🤣
Do they not realize they blow their cover with posts like that? "X dosen't happen because it's illegal" Yah? What about the global drug trade? lol. And they have the gall to call longs sheep...
🚨Compliance & Risk Departments for Big Banks & Financial Institutions now are officially on notice.👀
— CryptoCexual (@jamers2012) October 17, 2023
👩⚖️Judge Lorna Schofield has ruled. What's done cannot be undone. The bell🔔has rung.
The impact of this ruling cannot be understated. Legal precedent is now established.… pic.twitter.com/KdrHvtZ1FE
LOL. Notice how quick the bashers jump in to berate you for being optimistic.
Questions for
— Dodger (@realscottdodge) April 21, 2023
Alpine Securities, Scottsdale Capital
John Hurry, Justine Hurry,
Ron Riedel
Do you still hold a concentrated short position in $GTii
Are you the firm out of Utah calling large shareholders to buy?@iscjjh @HurryJustine @john_hurry11 @jrusin70 @rbronco4life pic.twitter.com/PuJBFaJpua
In other word no, your just bullshittin as usual.
Is their some data base you have access to that shows what percentage of "new investors" are browsing this forum?
Quite rich coming from the basher shill crowd.
Making light of a company being decimated by illegal naked short selling, very classy.
$FNGR $GTII Like I always said. When facing JAIL
— HAM (@HAMShortkiller) October 12, 2023
They will Rat on each other.
Cant wait. I have $200 on Charlie Mayo to RAT on Kramers in $GTII
and $500 on CHUN to Rat out LIND in $FNGR the min someone knocks on the door
RATS will be RATS. https://t.co/yI83vA9Mca
They are in an absolutely miserable spot, and they deserve every bit of it.
They never envisioned DBMM would survive, they thought it would be quick revocation and nice profit. Now they decide to drag things on as long as possible hoping longs give up, it ain't gonna happen. They are even so pathetic as to report every tiny little thing to the SEC just hoping and praying, pathetic clowns. The piper always has to be paid, sometimes in this life but always in the next, good luck and take care. 😎
$FNGR this is what happens when you are short and have a margin call
— HAM (@HAMShortkiller) October 12, 2023
THEY BUY it at the market THEN SUE YOU$JEF is the Prime for LIND.
ETRADE is RETAILS prime broker get it https://t.co/9CsMPxSSYf
Another strange trade, 890,000 bought at .0046 followed by matched trade at .00455...
1 billion short Mr. Mayor and the problem ain't going away, cost to carry will eat NSS alive.
They get paid with pre paid debit cards, amazon cards, walmart cards etc.