Friday, February 16, 2024 2:36:07 PM
KEY TAKEAWAYS
Naked shorting is the illegal practice of selling short shares that have not yet been determined to exist or that the trader hasn't secured in some way.
Ordinarily, traders must first borrow a stock or determine that it can be borrowed before selling it short.
Because of loopholes in the rules and discrepancies between paper and electronic trading systems, naked shorting continues to happen, a process the Securities and Exchange Commission (SEC) has been working to clamp down on through newer transparency rules.
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