Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

tds, re: "If all these alleged naked shares were never reported as having traded, how in the world do naked shorters drive down the price?"

A fine question. I don't have an answer. I suppose that those who engage in naked short selling could be comfortable enough in their ability to select companies that are likely to fail based on their own operational economics, combined with the exposure of those weaknesses based on the research of an aggressive media or their own research, so that the actual naked short sale statistics aren't required as a downward pressure.

But I really just wanted to make sure that you noticed that the poster himself indicates that he has "a clear idea" of the answer in the last line of his post, which he apparently chooses to keep a secret:
"As to how these phantom shares not recorded on the tape can exert downward pressure on a stock's price, I have a clear idea...but perhaps others more brilliant (like Patch ?) might want to chime in..."