I don't doubt there's been some naked shorting going on, but Im not sure that's the bulk of it. I believe Timing is correct with that list of shareholders selling. However, if the MM's knew that those restrictive legends were about to come off, I have no doubt they'd spend time leading up to it, driving the pps down, so when the date arrived that they were free to sell, the pps was as low as they could get it. This is exactly what I believe the VIRT+OTCX tag team was about back in January.
That said, with STXG and that list selling, I don't believe there has been much of a need for them to short anything. That is of course until ASCM today...
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