Monday, July 06, 2020 9:41:59 AM
I'm guessing the average sales price can not have been higher than 8 and might have been 7$
If 8$ to buy it back that day would have been very tough to bur at 6 to 7$
Meaning? How many shares did such an employee short?
Lets say 250,000 shares.
If a legit short , first sales on upticks are required. I am guessing the price was straight down , no or very few up ticks.
Any sales on a down tick are against the 1934 SEC laws.
A much more important fact is the margin requirement.
Prior to entering a legit short order, the required 5$ a share margin account deposit would be in the account as cleared funds. The equivalence of cash.
Lets guess the seller made 1$ a share. Meaning the seller sold 200,000 share. That required a 1,000,000 cash deposit.
How many believe that one?
OK. how do you get around that 1934 SEC law?
Easy, mark the sale as a long sale. What?? Yes, an illegal short is marked as a long sale.
Cash required is,,, wait,,, wait,,, wait' ZERO. No cash. I am thinking readers must think I am in error. I am not. This is why you never use a STOP LOSS ORDER, NEVER.
I just proved that this was a crime.
This is how stupid theses criminals are. They just robbed a bank and they posted selfie photos on their face book. I am laughing because any SEC or NASD dude can track the perps down in a day.
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