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Posted On: 02/27/2023 8:09:26 PM
Post# of 32688
Imo, the SEC has only discouraged naked shorting and just looked the other way. Believe it or not, the first naked short was in 1609.
https://en.m.wikipedia.org/wiki/Naked_short_selling
Not much has really been done imo to control it since then. A weak rule here or there that isn't or can't be enforced until an event like what happened with GME not too long ago occurs showing the gross negligence/apathy of the SEC. It is good that GNS, VERB, and other small cap companies are banding together to increase the visibility of naked shorting abuse. The more visibility the better. The more companies that ban together to find legal ways to frustrate, fight, and attack those that abuse naked shorting the better. Heck, even Elon Musk was complaining about naked shorting.
"One of the best things that could happen for the American people, and that is what this is all about. Is to force the closing of all these illegal (NSS) Naked Short Selling, positions and give the people their money back."
https://franknez.com/elon-musk-hedge-funds-ta...t-distort/
https://en.m.wikipedia.org/wiki/Naked_short_selling
Not much has really been done imo to control it since then. A weak rule here or there that isn't or can't be enforced until an event like what happened with GME not too long ago occurs showing the gross negligence/apathy of the SEC. It is good that GNS, VERB, and other small cap companies are banding together to increase the visibility of naked shorting abuse. The more visibility the better. The more companies that ban together to find legal ways to frustrate, fight, and attack those that abuse naked shorting the better. Heck, even Elon Musk was complaining about naked shorting.
"One of the best things that could happen for the American people, and that is what this is all about. Is to force the closing of all these illegal (NSS) Naked Short Selling, positions and give the people their money back."
https://franknez.com/elon-musk-hedge-funds-ta...t-distort/
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