I'm gonna try this one time for the sake of those who believe a mystical 50+ billion naked short sales could possibly exist.
By definition, naked short selling results in a failure to deliver because there is no correlating share certificate issued by the TA. The fact that there is a claim of more naked short selling in SPNG than the total number of shares purchased in the history of the stock means that every single soul who ever bought a single share of SPNG would have been buying those naked short shares.
Now, rdailey4, go and look at your trading records. Were the shares credited to your account when you bought them? Were they reported as fails to deliver? Has anyone that you know of failed to receive the shares that they bought? What is the total number of fails to deliver recorded in the trading of SPNG stock? You see? In order for some devious entity to sell naked short shares, someone has to buy them. Who bought all of these shares and why are there no correlating fails to deliver? Why are the broker dealers who are on the hook to their clients for these billions of phantom shares not screaming bloody murder over the fact that they can't deliver them?
What you're claiming is that everyone who ever bought SPNG shares never received them, all of this illegal activity was never reported as fails, and the broker dealers are gonna eat hundreds of millions in losses to cover the shares they never delivered to their clients. Is this REALLY what you believe to be true?
AI
