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Boxsterfan

05/21/24 11:52 AM

#23328 RE: gdog #23327

Are you saying that MM's are risking their ability to be in business over a little old company named Netlist?
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choo choo trader

05/24/24 12:43 PM

#23651 RE: gdog #23327

Yes, naked shorting is legal (allowed by the SEC) by the MM's, but only in order to create an orderly and efficient market. Does anybody think today's market action with NLST is normal or even rational? Anybody who has been invested in Netlist for over 10 years as I have has seen this obvious manipulation too many times to count. What we are seeing on these high-volume days is massive amounts of counterfeit shares inserted into the market through market makers by unscrupulous short sellers and hedge funds. Many of those counterfeit short shares are never covered. People who rely on the FINRA short report are only seeing the legal short share count and fails-to-deliver not the illegal counterfeit shares that have been inserted into the float and are not presently covered and sometimes never covered. Is this being done solely for the purpose of making ill-gotten gains for those committing these crimes or is this being orchestrated by other "powers that be" who would like to see NLST destroyed? I continue to say Chuck Hong needs to hire a team of forensic experts to analyze the trading of NLST over the past several years. There are a few law firms who specialize in investigating and rooting out this type of criminal activity. Sometime when you get the time read the story of Patrick Bryne and his company Overstock.com symbol OSTK before it was bought out. Also here is a good overview of this criminal activity in the following PDF which by-the -way comes from the sec.gov website. It's long but very informing and well worth the reading.
https://www.sec.gov/comments/s7-07-23/s70723-20162302-331156.pdf
Bullish
Bullish