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Tuesday, April 16, 2024 6:31:00 PM
It only proves you are clueless about shorting.
The only accurate information about shorting is the FINRA bi-weekly report.
Do you have a margin account - the answer is no you have a cash account.
Have you heard of the $2 50 rule - again you don't know anything about the rule.
I will explain for everyone share you borrow under $2.50 you have to put $2.50 in a margin account. So if you borrow 1 million shares of Spooz to short you will need $2.5 Million in your margin account.
But there is margin maintenance fees - plus there is a borrow rate.
Those 1 Million shares are worth $7500 and the absolute best you can do is buy 1 million shares at $0.0001 which is $100. But you have $2 5 Million in the margin account that is dead money.
Then you take out all of the fees associated with shorting and the absolute best you could do is make around $2500 - and you won't get a margin call until the price is above $2.50.
As you can see shorting OTC stocks isn't economically feasible.
And many brokers don't allow you to short OTC stocks.
That is why it is hilarious when those that are clueless about shorting are always posting about it.
You need to start by learning the difference between short volume and short interest.
You are embarrassing yourself when you post about shorting.
IG
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