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  4. Innovation Pharmaceuticals Inc (IPIX) Message Board

I understand how naked short selling works. It's s

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Post# of 72446
(Total Views: 233)
Posted On: 06/30/2017 3:15:01 PM
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Posted By: sox0407
Re: AlanC #35449
I understand how naked short selling works. It's short selling with borrowing the shares first.

Here's what I don't understand. NTGL opened at $0.0079 on 6/23 and 18K shares were traded. According to your post, 100% were naked short sales. Let's assume I was the one who naked shorted all 18K shares with the purpose of lowering the stock price. I didn't borrow those shares but I sold them to the bid (should be lower than the ask of $0.0079) anyway. The SP should be lower since I was accounted for all 18K shares sold and there were no buys. If your interpretation of the short volume data was correct, how did NTGL close at $0.0079 on the same day?

Thanks in advance for your answer, but please don't go around my question with another definition of naked short selling or the purpose of wash trading.


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