I know people were talking about OTCSHORTREPORT this morning. It seems as if their numbers may be accurate. If you visit the link below and search SWET, the short volume is very consistent with the numbers provided by OTCSHORTREPORT. You can see that it's only going up to Febuary 3rd, but even the short volume of 150M on Febuary 1st is consistent with the historical figures on OTCREPORT.
The link below states that these numbers have been provided to FINRA.
This is quite interesting I have to say. Main reason I say this is because most brokers will require $2.50/share on margin to short OTC companies. With this being said take Febuary 1st for example. 142M volume in shorts?
My thoughts on this are not negative at the moment. Many will come to conclusion that if this many people are shorting or betting against the company it cant be good......
What I believe we are seeing is the Market Makers naked shorting. This is allowed by the SEC from my understanding. They allow market makers to create as many shares as they want so they can surpress the price. This is usally done when companies like SWET have become delinquent in filings but there is still a high demand of buying pressure coming in. The SEC doesn't want a huge spike in price that doesn't truly represent the value of a company that has become delinquent in filings. This may also explain why recent insider transactions were labeled open market transactions but were not accurately represented in the historic volume logs.
I could be wrong, but I'm pretty sure the SEC allows market makers to naked short and create an unlimited supply of shares to keep an orderly marketplace. It sounds crappy and it is but you should look further into it to understand what I'm trying to say. It's complicated so maybe someone else on here is more knowledgeable and can explain it more effectively than I can.
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