Helios and Matheson Analytics Inc (HMNY)

[jross34]

why is naked short selling even legal?

"Some commentators have contended that despite regulations, naked shorting is widespread and that the SEC regulations are poorly enforced. Its critics have contended that the practice is susceptible to abuse, can be damaging to targeted companies struggling to raise capital, and has led to numerous bankruptcies."

There is no doubt that HMNY would have been able to raise the funds they wanted to if there wasn't so much naked short selling. Naked Short sellers really killed this company and any way for it to raise money.