Replies to post #10566 on National Bank of Greece ADR (fka NBGGY)

[Mierto]

Well, I have to responses for your question.

The first is, I am not sure if this applies to the ADR-NBG shares - meaning the American stock market. If it DOES APPLY then yes, I think this would be a good thing for sure.

In regards to short sellers, come October 1st - today - they cannot use that mechanism to drive the price of the stock down. This would not necessarily completely hault a drop in stock value, as if people genuinely felt a lack of confidence in the stock and wanted to sell it for a loss they still could.

Obviously, this stock has been manipulated heavily and that is why the powers that be came to the decision to halt short-selling of the stock.

Best of luck to us all!

[dabonenose]

Well, for one thing,,,short sellers do not own the shares they short! They are borrowed shares.

The only way for them to close a position is to "Buy to cover", which in itself will cause the price to rise.

If this article is true, it can create a short squeeze possibly unless there is massive selling of shares.

Time will tell,,,lol, we are a looooong way from the stairsteps to heaven,,,lol.