You don't think? I know it does. It cleans out the shorts. New certs need to be issued by the T/A. If you own a stock and the name changes, call your brokerage and ask them for your certs and see what they tell you... I'll tell you what they will say, "We are waiting for the T/A to send the new Certs". MM's buy and sell on borrowed shares all the time. Its not a myth, its truth. Do you think every MM has shares of every stock available to buy and sell, nope. They borrow from each other, they sell without having the shares and look to buy them back cheaper..ect. MM's have 15 days to cover or they are forced to buy at the market. Hope you learned something. Here is the example:
FCNK changed to RGNO on 1/23/2007
Now check out what happened 15 days later:
2/9/07 0.024 0.12 0.024 0.085 13,747,762 0.06 240.00%
It ran for 3 days for 1200%... That is how symbol change can force a short squeeze...
