JALEX...DEPENDS ON WHO BOUGHT/SOLD
I do not believe you are correct.
Here's the play:
HYPO: Let's say at one time the company had 50 bil shares outstanding. They announced a buyback. The COMPANY is who buys back the shares, not Urban individually. That's what the PR stated...a buyback, not Urban buying shares for his personal account.
NOW, as we go down to 10 billion shares, the MM's short, lets say 200 billion for argument sakes.
NOW, you say that JEFF is allowing the MM's to cover by Urban allowing the MM's to cover their naked shares back at this price, where CMKX bought back all the shares at .0001.
Let's say the company now has reissued 50 Billion more for argument's sake, all being covered by the MM's.
As I see it, we now have 60 BILLION SHARES OUTSTANDING. The short is 150 billion.
THERE IS CLEARLY AN INCREASE IN THE O/S IN THIS SCENARIO.
The stock was reissued by CMKX, not by Urban himself. You must separate the two and its a very different result.
NOW.....if you are saying that Urban bought all these shares and not a buyback from CMKX, you would be correct. However, the PR clearly indicated that CMKX was buying back shares...there is no indication that Urban did this by himself.
IF ITS URBAN RESELLING THE SHARES, YOU WOULD BE CORRECT.
But please, don't insult my intelligence...I am a seasoned investor.
