Gump on naked shorting:
I think we are now going to watch it finally come to the fore .. lead by issuers like CMKX, GMXX, and JGMHA.
I've never denied that GMXX was shorted naked; that has, I believe, been proved. It occurred at a time when GMXX's float was genuinely low, and the short wasn't all that large in terms of total shares.
JGMHA (now JAGHV) is attempting to show in court that it's been shorted naked. So far the judge has asked it to amend its complaint twice because it failed to demonstrate the short.
At least these two companies have officially claimed that they have or had a naked short position. Neither ever issued or authorized excessive amounts of stock. CMKX is, in both respects, entirely different. There's been no official proclamation of an alleged naked short, and we all know that the company has authorized an absolutely ridiculous amount of stock.
