selling short means that you borrow a security and then sell it in hopes of repaying the loan of the shares by buying back cheaper shares later on.
You can't sell short unless the brokerage firm is able to borrow the shares. Sometimes, so many people have sold a stock short that there are no shares to borrow.
The catch to selling short is if the price goes up you, you'll see people scramble to purchase those shares back before it goes too high or they will be out alot of money. Think of it in reverse to the normal purchase a stock and waiting for it to go up, expect in this case the more it goes up the more you have to pay. At .03 The stock would only have to go up a little before people would get worried and purchase back the shares they shorted, which would drive the price back up.
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