Friday, August 13, 2010 11:21:43 PM
When someone buys and the MM has no shares to sell, he/she sells the shares "short". Meaning the shares are not available at that moment however, will be by the end of the day.
The MM either buys shares later in the day at a lesser/greater price. or fills the order from a broker at the end of the day. Lesser price, MM makes money, greater, looses money. Just one of the ways a MM has to make money.
If you look at the shares at the end of the day, it will tell you how many shares were sold, and what percent was sold "short". The MM was not necessarily "shorting" the stock, just playing the market to their advantage, and selling shares he/she did not have at the moment.
Hope this answers your question.
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