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Monday, April 16, 2018 12:19:39 PM
Some note holder shorted the issues they were funding knowing they could always use the conversions of the notes they hold to cover any short positions on the way down. Now this may only be a small % of funders who did this execution, but if notes are no longer able to be cleared like before these shorters, or market makers, will be required to cover said positions with their own cash now, or risk major losses.
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