Posted On: 05/22/2015 11:35:20 AM
Post# of 96881
There was a huge short on 2/6/15 when NTGL was spun off and I look forward to the distribution of those shares to see how short brokerage firms react especially if some significant news has been PR'd by NTGL prior to the distribution. I'm sure the company has both the NOBO and OBO lists of shareholders as of 2/6/15 so they know who is entitled to shares and how many.
By rule if the brokerage firm is short they are supposed to buy in those shares.
Will they or will they place markers in their clients accounts ignoring their fiduciary responsibilities? They won't be able to claim ignorance and by right should then buy in the NTEK shares they are short as well. Don't be surprised if some brokerage firms like Scottrade or Ameritrade refuse to allow buys of either NTEK or NTGL soon as that would be par for the course. We are lucky to have management who seem to me to be doing all the right things. Go NTEK!!!
By rule if the brokerage firm is short they are supposed to buy in those shares.
Will they or will they place markers in their clients accounts ignoring their fiduciary responsibilities? They won't be able to claim ignorance and by right should then buy in the NTEK shares they are short as well. Don't be surprised if some brokerage firms like Scottrade or Ameritrade refuse to allow buys of either NTEK or NTGL soon as that would be par for the course. We are lucky to have management who seem to me to be doing all the right things. Go NTEK!!!
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