Sunday, January 29, 2023 11:10:24 AM
All aboard the naked short selling investigation train
5d ago · By Eddie Pan, InvestorPlace Assistant News Writer
https://investorplace.com/2023/01/blue-apron-aprn-stock-fans-push-for-ceo-to-tackle-naked-short-selling/
Blue Apron (APRN) shareholders have drafted a petition to investigate naked short selling.
The petition currently has over 500 signatures.
Shares of APRN stock are up by about 2%.
BUY ALERT: !!!
APRN stock - BLUE Apron (APRN) Stock Fans Push for CEO to Tackle ‘Naked Short Selling’
The recent crusade against potential market manipulation began after Genius Group (NYSEMKT:GNS) announced that it had formed an “Illegal Trading Task Force” to investigate naked short selling. Following the announcement, shares of GNS accelerated higher by over 250%.
It appears that other companies were taking notes. Shortly after the announcement, Helbiz (NASDAQ:HLBZ) CEO Salvatore Palella announced a similar plan of action to investigate naked short selling, which drove shares of HLBZ higher.
Now, shareholders of Blue Apron (NYSE:APRN) have taken it upon themselves to draft a petition against naked short selling. At the time of writing, the petition had over 500 signatures.
APRN Stock Holders Call For Naked Short Selling Investigation
The petition asks CEO Linda Findley to investigate naked short selling, which is “damaging our investment.” In the comments section of the petition, shareholders are confident that something fishy is going on with APRN stock.
Naked short selling occurs when a short seller does not own all or any of the shares at the time of settlement, which results in a concept known as failure to deliver (FTD). This can result in the creation of phantom shares, which could lower the price of a stock due to dilution.
5 STOCKS THAT COULD DOUBLE OR TRIPLE IN THE MONTHS AHEAD
According to Fintel, a total of 2.42 million shares failed to be delivered last month. FTD was relatively high during late September and early October.
The Securities and Exchange Commission (SEC) notes that naked short selling is “not necessarily a violation of the federal securities laws or the Commission’s rules,” and in some instances, contributes to market liquidity. In addition, retail investors cannot enact FTD scenarios, although market makers and broker-dealers can.
Meanwhile, shares of APRN stock have declined by over 80% in the past year. The big question is whether that decline is attributed to company health or market manipulation.
During Q3, Blue Apron reported revenue of $109.7 million, which was flat year-over-year and down 11.7% quarter-over-quarter. The average customer order value tallied in at $70.83, a record high and up 13.7% YOY. Furthermore, the company also flagged a going concern risk in the event that a private placement of $56.5 million from RJB Partners is not received. In Dec., Blue Apron received $1 million from the private placement, which resulted in the issuance of 176,991 shares.
C4urself the 1st Ammendment.
Don't assume that i don't know, and i wont assume, that you have no idea.
Recent APRN News
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/08/2024 10:52:23 PM
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 11/24/2023 02:00:11 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 11/20/2023 05:15:22 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/13/2023 09:30:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 09:30:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 04:14:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 03:55:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 03:50:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/13/2023 03:37:06 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 11/13/2023 02:17:00 PM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 11/13/2023 02:08:23 PM
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