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Alias Born | 05/27/2020 |
Tuesday, July 20, 2021 11:35:17 AM
Say there was a broker short shares.
The company announces a name change, forcing a share recall.
Being Short, said broker cannot remove all shares from all client accounts
because company's T/A will only do a 1 for 1 swap of previous ticker to new ticker.
Sooo said broker removes shares from all accounts equal to the original amount of old shares issued originally (leaving cusip holder in place).
Other accounts that would lead to the broker surrendering shares that exceed their valid shares are left untouched.
Sooo Broker surrenders old valid shares swept from client accounts. T/A issues said broker new shares in new ticker.
broker seems to be trading normally...
THEN company does a calculation to access how many invalid shares are left in said broker and does a reduction to an amount below that amount, Effective forcing a squeeze on NEW AND OLD shares simultaneously because old shares cannot trade (or being exchanged) and NEW SHARES cannot replace the old without creating an additional short.
meanwhile if this is not resolved, 2 nuclear bomb acquisitions which combined with new share reduction will push price up PARABOLICLLY.
Broker MUST COVER newly issued AND old ticker within 3 days. If this is not settled behind doors, look for said broker to magically " limit buys" in new ticker..
this is like doing a reverse cert call by the company.
We will know if this is correct in three days..
all imo
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