Aurora Acquisition Corp (AURC)

[BonelessCat]

Pinks cannot be shorted except as a part of daily execution of buying and selling for the orderly progession of the market. That means shares can only be sold short by MMs in order to fill the immediate needs of the market. They then have 5 days to cover the sales. If they do not, then Reg SHO kicks in. So, by definition all orders that are not immediately covered are uncovered sales (read naked shorts). The practice becomes illegal when there is a failure to cover within the prescribed time frame and sales are made without the intent of covering in a timely manner. Many short sellers are betting that 1) a price retracement will occure in time and 2) the SHO regs will not be enforced. So far, that seems to be a pretty safe bet on the pinks.