What? I spent over a hour on the phone with E*TRADE highest level Yes! They did borrow shares on what’s called good faith and then created a market. The shares aren’t delivered! So you tell me where did they come from if they didn’t come from good faith naked shares?
According to what I know and the brokerages it’s common for the 6 market makers after a symbol change merger to simply borrow good faith naked shares and start selling them Even though the real ones have not been released cause they assume that With automatic transfers that usually go through in 3 days that it’s very rare to have it take more than the 13 days to cover. Which is exactly what’s happening here