lowman, if they can't deliver it could be because his MM is short to the point they have ZERO actual shares... the reason they can't deliver the certs. What I was trying to say is then the MM would be forced to buy them in the open market from somebody willing to sell. So, instead of you or I or another investor being the current bid, the MM would "step up" and become the bid to collect the shares he doesn't actually have. When somebody then sold at the bid, instead of the shares going into an investors account, they go into the account of the MM. Unless I'm confused which is a possibility but that is the way I understand it :)
(Now, how do you know the shares the MM bought are not vapor shares either? No clue. LOL)