I call it fraud....try calling your broker and demanding your shares. If you buy something, and the seller accepts payment...but later refuses to deliver that which was purchased, that's fraud.
I don't care if the underlying company is a Piece of Shit or not....I've read a number of letters from senior traders with MM firms to the SEC complaining that forcing delivery would artificially inflate the value of stocks with no fundamental basis for the valuation. What total bullshit, give them 100,000,000 shares of WNMI (to cite one example out of hundreds) and they have no problem bidding it up despite there being no fundamental valuation to support a bid/ask of even .0001
A market with integrity involves buyers and sellers....with sellers delivering that which they've sold. If they borrowed stock due to a lack of supply, they can go and purchase it....if they have to pay more than what they sold it for, too fuccking bad.
If you want to taste the fruit, you have to go out on a limb. But if you wait for the herd to move out on the limb....the branch tends to snap.
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