Posted On: 05/18/2015 4:14:08 PM
Post# of 96883
This is how the naked shorts operate. Fortunatly NTEK seems to have a plan to deal with it. The spinoff of NTGL as of 2/6/15 should cause problems for the brokerage houses. If they were short NTEK shares on 2/6 they will be short NTGL shares to distribute to their clients. This poses a dilemma for them as the rules require them to buy in whatever they are short.
Will they? Will they ignore their fiduciary responsibilities? Will they expose their firm to huge losses if NTGL rises substantially in price? What if NTGL files two years worth of audited financials and uplists? We are fortunate indeed to have savvy management that is working a plan to protect shareholders and the company. Could end up being very costly to those short especially if a pod of Hollywood/Bollywood whales appear. Go NTEK!!!
Will they? Will they ignore their fiduciary responsibilities? Will they expose their firm to huge losses if NTGL rises substantially in price? What if NTGL files two years worth of audited financials and uplists? We are fortunate indeed to have savvy management that is working a plan to protect shareholders and the company. Could end up being very costly to those short especially if a pod of Hollywood/Bollywood whales appear. Go NTEK!!!
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