Saturday, April 20, 2024 10:21:48 AM
This is only my opinion based on all that I have read and should not be taken as absolute fact as there are many factors to consider. What is described in that post works in favor of naked shorts in my opinion IF a “Friendly” buys the company ie a big pharma willing to make good at a cheap price so that all shares that otherwise would be unaccounted for are actually paid for as the books get straightened out. If a non friendly transaction occurs then those unaccounted for shares don’t get covered but rather get “discovered” as not existing leaving investors with a potentially very big loss. The truth comes out if and when those shares don’t get located and covered fast enough from those trying to cover their tracks by buying as the price is rising. The backup plan for them is probably found in the liability agreements and bankruptcy laws. One thing I believe is certain is that those who have their shares lent out and are trying to get them back will not be covered at all in this circumstance. Best wishes.
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