Most companies unfortunately get killed in the nak
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Posted On: 11/12/2017 8:11:16 AM
Re: Commando911 #38000
Most companies unfortunately get killed in the naked shorting operation, very few survive. I remember a couple of years ago a company I was following got shorted so bad that they literately killed in 6 weeks, that was the final push I might add as they had been shorting it for years.
The company had done a RS the year before, which brought their OS down to 24 mil.
trading at about 70 cent they were in negotiations for further financing. The shorting started to ramp up and they pushed the price down from 70 cent to about 10-15 cent in 5 weeks. the next three days they further pushed it down to 1 cent on volume of 60 mil shares a day, for a total of 180 mil shares traded in 3 days.
This is for a company with 24 mil shares OS. that seems completely legit to me NOT!
when you have unlimited amount of phantom shares available to sell into the market, you can kill any company on the OTC, I have seen it numerous times.
The company had done a RS the year before, which brought their OS down to 24 mil.
trading at about 70 cent they were in negotiations for further financing. The shorting started to ramp up and they pushed the price down from 70 cent to about 10-15 cent in 5 weeks. the next three days they further pushed it down to 1 cent on volume of 60 mil shares a day, for a total of 180 mil shares traded in 3 days.
This is for a company with 24 mil shares OS. that seems completely legit to me NOT!
when you have unlimited amount of phantom shares available to sell into the market, you can kill any company on the OTC, I have seen it numerous times.
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