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Tuesday, July 05, 2022 6:22:06 PM
Right... so how does a naked short (imaginary in DBMM) get a margin call exactly?
How? Simple as how naked short shares were made for companies like Game Stop and AMC Entertainment.
There was a poster on this board, pennypauly, who has already submitted data on how this was achieved with D*BMM. Seemed plausible to me after reviewing it.
In the past similar activities would only lead to a fine.
When has a naked short (MM or the boogey man) ever been forced to cover?
No fines for this illegal activity ever. Could never find one in my searches. Fines are not the thing in question here. Remember that this sort of creation of phantom shares is illegal. That should be met with jail time. Will it? Not counting on it. Naked shorting of stocks has been well documented going back to the 1980s.
When lenders demand their money back from those that created these naked short shares, that is when the imaginary naked shorts will receive their margin calls. Those calls will have to be covered within 24 hours. No more grace period.
For those brokers that allowed these transactions to occur to the tune of several billion shares? They will have to come up with real shares in order to cover. Even if it is just a couple of hundred million shares naked shorted brokers must come up with real shares in order to cover the phantom naked short shares. That will not be easy.
That is what intrigued me and brought me to this ticker.
The best example I will give anyone is for them to watch what happens when/if the CE drops and D*BMM starts trading in the US market.
Good luck.
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