$DBMM & Huge NSS positIon to cover, details : The reason for intentionally engaging in naked short selling is to conduct manipulative “bear-raids” on stocks. When borrowing costs are high, market makers sometimes choose not to borrow and instead naked short sell. In such cases naked short selling, then failing to deliver is economically equivalent to borrowing shares at a zero-fee zero-rebate equity loan plus the expected cost of being forced to buy back the stock and deliver it (a process called “buying-in”). "Because naked short sellers do not borrow the stock they can theoretically sell an unlimited volume of stock into the market, driving down a share price. " They done it starting in May 2017: $DBMM NSS position + 700 Million shares to cover !
"If a participant is unable to deliver on their net short position (stock owed to the NSCC), the position is called a “fail to deliver” (FTD) and the short position remains open. "
"“Buying-in” is the process in which a seller that has failed to deliver stocks is forced to purchase and deliver the stocks to the buyer. This process is initiated by a buyer that fails to receive stocks and occurs with the mediation of the NSCC. Any participant with an FTR at the end of a day may submit a Notice of Intention to Buy-In (a “Buy-In Notice”) specifying the quantity of securities it intends to buy-in (the “Buy-In Position”). For the purpose of this description, the day the Buy-In Notice is submitted is referred to as N, and N+1 and N+2 refer to the succeeding days. "
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