CUSIP 101: This number is used to keep track of all buy and sell transactions for a stock.
If the number is changed, the brokers have to account for their transactions and prove that the shares actually exist. If someone is illegally counterfeiting shares (naked short selling), they will have to buy back those shares quickly or risk getting caught and facing stiff penalties, like being banned from trading for a period of time and financial penalties.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.