CKYS should squeeze very, very strongly (after trading halt), if the following post from wsdomseker and the financials from CKYS are the truth:
Posted by: wsdomseker
In reply to: janice shell who wrote msg# 54983 Date:2/6/2007 3:11:11 PM
Post #of 55449
Janice, the rumor is not a 30 million SHARE short but rather a 30 million DOLLAR short which would translate into 1.5 billion short shares.
I know, I know, many say that Naked Short Selling doesn't exist but, the SEC with their Reg SHO, Debates before Congress and now even the President all say that it does exist. So, lets just assume that the United States Government is correct and it does, in fact, exist.
So, let me ask you this...if you ran a company that you believed was shorted greater than the A/S, wouldn't it be wise to raise the A/S (to say, twice the short position) for protection of the company?
Also, if a Naked Short position of 7.5 times the float did, in fact, exist, and at the same time the company appeared to be succeeding and the person or persons holding that position stood to loose hundreds of millions of dollars then, what lengths do you think that those persons would be willing to go to to protect their money?
All hypothetical, of course.
