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Re: Phunware post# 921

Thursday, 04/18/2019 6:00:17 PM

Thursday, April 18, 2019 6:00:17 PM

Post# of 5074
@Phunware

That is exactly supporting what I wrote here about 2 weeks ago.

The shares that were sold (naked) were sold by the broker in anticipation of the actual delivery through the exercised warrants.

I have no clue if brokers were allowed to sell those shares naked, but that is something FINRA has to figure out.

As I said before I can see why a broker would do it, if he already knows that the shorting party will recieve the shares in the next days technically and legally is already in possession through the date the exercise is effective.

The fact that the fonds holding the warrants came from the SPAC which is the entity that set up the whole construction makes it especially sad (as obvoiusly those investors have good connections to the brokers and took maximum advantace being able to short at a relativly high price)

FINRA might fine those involved. The retail investor will not benefit.
He was punished by the decline in stock price.
By the dillution happening in the process.
By the fact that the company lost the money it was expecting in return for exercising the warrants and therefore worse cash holdings of the company in the coming quarters.

LOL abuser
Someone who uses lol not only too much in a conversation, but is most likely NOT laughing out loud at what was previously said. Not only is this person an abuser of an already retarded term, but they are a liar.

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