Someone has to control the buying and selling of a stock amd NITE is one of the chosen ones. Many market makers are content to make a very good living buying things for less and selling them for more. NITE on the other hand is never satisfied. They have found over the years that they do not have to cover shares they have shorted if a company goes belly up. This makes them quite a bit of extra cash when a company quits. So they help a company go out of business by pushing their share price down and keeping it down and selling shares they do not have. If a company looks like they are going to make it then NITE salvages what he can by maintaining a large spread. If he buys for 1 and sells for 2 he makes money. If he buys for 1 and sells for 4 he really rakes it in. He has his way with the watchdogs of the SEC who seem to turn their backs on he's actions. They have in the past at least but that is changing. If you have proof of anything NITE does that is against the law then the SEC needs to know about it. Take screen shots and send them to the SEC. They will direct your information to the proper people. If enough of you do it you can cause NITE as much trouble as he causes you and it does not cost a dime. Head for the SEC web page and let them know.
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