"In the meantime though, there have been no SEC reports regarding the new shares. Are they being held by the investor or redistributed in some manner. Assuming the shares are being held, why all of the down pressure on the shares? 52% of the trades yesterday were naked shorts."
How do U know that 52% of trades yesterday were naked Shorts?
I think GE/DRYS are selling the 'new' Stock directly into the Market using 'At The Market (ATM)" method of pricing. In Fact, IF what you say is true (that MMs are taking 'Naked Short' positions), it is indeed revealing to us the Fact that the MMs must be aware that GE/DRYS are actively 'dumping' new DRYS Stock using ATM, Hence they are confidently taking 'Naked Short' position as they are privy to this Fact and know that there is ample Stock coming in to cover their Short positions.