IHGP - NITE and UBSS will be buying those markers back above $0.10, IMO.
UBS and Credit Suisse fined by FINRA, and the SEC has fined UBS, and will likely do the same to Credit Suisse for abusive naked short selling practices.
Interesting that the Swiss banks and brokerages are getting hit first. Looks like they will soon be turning over the account values of their clients. Should get interesting.
Until then, it is probably safe to assume UBSS and NITE hold two of the largest short positions in the OTC. It would also be safe to assume they are responsible for the daily short volume being nearly 100% pre-split. NITE was observed being the only one on the ask at times when the daily short volume was 100%.
They counted on endless dilution after the split and it never came! OUCH!
Just need a couple momentum groups and squeeze groups to come in and do what they do best. Make the abusers pay.
I could see it now.
NITE's cry to FINRA and the DTCC: "We stole from IHGP shareholders and abused the naked short selling loop-hole, and a group of IHGP shareholders forced us to cover! We've been taken advantage of! Oh, and by the way, naked short selling does't exist! Just ask UBS and Credit Suisse!" lolzzz
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