I don't buy the naked short argument or the brokers don't want to trade it because they are short bs so many go on and on about. MM or brokers are short at times on all stocks, sometimes a lot more than other times. So what? Thats the business. You go short when the price rises, you buy when it falls. Same will happen when bcit trades. The price could go to $100 a share, MM will short it all the way up and sell it all the way down. No different than any other stock. The naked short BS is another tool in the toolbox of the stock promoter to get people to buy the stock thinking there is going to be this huge demand for a buyin. There could be huge demand for a buy in, and the price could skyrocket yes, but the MM or brokers could care less, imo.
The suit imo is so Megas can get rid of s/h and more or less take the company back quasi private by erasing your shares, clean the slate, wait a while, reissue more shares and start the penny game anew. In the meantime, he thought he could overreach and catch a few suckers for fraud penalties. All this is imo and I dont represent any broker or MM and I bought my shares online through a broker as a daytrade and Yes I was sued. And yes Im still extremely PO'ed about it. In case you couldnt tell.
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