Leo decided to change the company name and CUSIP #
Post# of 72440
(Total Views: 171)
Posted On: 04/07/2018 3:04:57 PM
Leo decided to change the company name and CUSIP # to expose naked shorting on June 9, 2017. The total volume after the name/CUSIP # change (+3 days) was ~1.625M shares, which indicated the covering was by legal shorts because legal short interest was ~1.2M shares at that time. If naked positions were 10M shares (hypothetical), the total volume would be more than that because naked shorts must cover.
"Changing the stock cusip number results in each share with the old cusip number having to be exchanged for a share with the new cusip number, which causes each short position to have to prove the borrow. Naked short positions would be unable to comply and those positions could have to be covered by purchasing shares with the new cusip on the open market. "
https://groovevc.wordpress.com/2017/04/12/is-...t-squeeze/
"Changing the stock cusip number results in each share with the old cusip number having to be exchanged for a share with the new cusip number, which causes each short position to have to prove the borrow. Naked short positions would be unable to comply and those positions could have to be covered by purchasing shares with the new cusip on the open market. "
https://groovevc.wordpress.com/2017/04/12/is-...t-squeeze/
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