Again, to be clear, this does not mean it is naked short, it means BD's and MM's have a short position which they have created to fill an order, those shorts will be covered within 24 to 48 hours by borrowing from other BD's and MM's. Do I believe its ethical to allow markets to trade this way, no, but it does not mean people are betting against a penny stock, it means they are making a market to create PFOF and commission.
Just saying :)
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