Here's SEC's definition of naked short sales. I
Post# of 72444
(Total Views: 203)
Posted On: 07/23/2017 4:02:29 PM
Here's SEC's definition of naked short sales.
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a " failure to deliver " or "fail."
https://www.sec.gov/answers/nakedshortsale.htm
You claim there are millions of naked shares out there, but according to the SEC, only 903 shares (0.0007% of the OS) were failure-to-deliver as of June 15.
20170615|45782D100|IPIX|903|INNOVATION PHARMACEU|0.74
https://www.sec.gov/help/foiadocsfailsdatahtm.html
IMHO this is the strongest proof that naked short selling is almost nonexistent in IPIX. If we are in court, this would be my closing statement.
In a "naked" short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due; this is known as a " failure to deliver " or "fail."
https://www.sec.gov/answers/nakedshortsale.htm
You claim there are millions of naked shares out there, but according to the SEC, only 903 shares (0.0007% of the OS) were failure-to-deliver as of June 15.
20170615|45782D100|IPIX|903|INNOVATION PHARMACEU|0.74
https://www.sec.gov/help/foiadocsfailsdatahtm.html
IMHO this is the strongest proof that naked short selling is almost nonexistent in IPIX. If we are in court, this would be my closing statement.
(0)
(0)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
Scroll down for more posts ▼