DD Support Board and Research Team

[janice shell]

To the first article you cite:

We've recently discussed James Stafford, the editor or OilPrice.com. He's a stock promoter who's paid for this stuff.

"The ability to sell an unlimited number of non-existent shares in a publicly-traded company gives a short seller the ultimate power: To destroy and manipulate a company’s share price at will."

That is absolute nonsense. First of all, shorts are not allowed to sell an unlimited number of nonexistent shares. Reg SHO, which was adopted by the SEC in 2005, and refined in 2007, does not allow it. And since then, naked shorting has not been much of a problem. Not that it really was before that.

You might find this interesting:

https://www.casemine.com/judgement/us/5914847dadd7b049344b79b6

It's an appellate ruing that has not been overturned.

As to the SEC's new regulations, they did it because people have been whining about it for years. Here's the new rule:

https://www.sec.gov/news/press-release/2023-221

See also this letter from SIFMA:

https://www.sec.gov/comments/s7-08-22/s70822-20126803-287514.pdf