OT: HrH:
My posting that article wasn't a commentary on the legitimacy of the naked shorting issue. I just found the report about Byrne's webcast hilarious. It's always good to have a good laugh.
I also watched the video of the CNBC segment, and while he seemed a bit shifty to me, he wasn't incoherent as he apparently was in the webcast.
The SEC has apparently begun an informal inquiry into Overstock.com. This was also brought up in the CNBC segment. Byrne implies that the SEC is investigating him because he has been criticizing them. It will be interesting to watch what happens.
Your concerns about hedge funds being interested in a specific are well founded as most make liberal use of short selling. As you know, hedge funds have been involved with several of e.Digital's PIPE financings, including the Series EE still outstanding.
The terms of all of e.Digital's PIPE incentivize the financier to sell short before converting to close their short position. e.Digital considers it "covered shorting" because they consider the preferred shares to be an underlying long position.
Because their sales are adding new shares to the float, it has an impact on the PPS similar to counterfeit shares created by naked shorting.
News 
Market Data 
Discover 
AI
