If MM's were counting on a Reverse split accompanied by a cuspid (?) change, then why wouldn't they naked short the stock? They wouldn't have to cover once the RS & cuspid # change went through and they would get away scott-free.
Now however, doesn't this put them in a bind? And if so, isn't the clock ticking on when they will have to account for the shares? And if some strong buying pressure comes in, won't there be a mad scramble to cover?
Seems to me that there is a prime opportunity for some large investors to take advantage of this situation....
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