Reading the article, I came away with the impression that the author deemed this procedure by Overstock highly manipulative and would be replicated by other toxic/shady companies that are going down the tubes for the company to make money even though their business was cratering.
He didn't seem to point out that it would kill naked shorts and would be a very good defensive weapon for artificially downtrodden stocks that have been at the mercy of naked shorters.
I like the idea, but the alternative market that requires all shares to be registered has to be much, much larger (right now just Overstock.com) before it would be considered anywhere legitimate.
Hope it forces SEC to get off their asses and moving on reaching T+0 trading across the board.
He didn't seem to point out that it would kill naked shorts and would be a very good defensive weapon for artificially downtrodden stocks that have been at the mercy of naked shorters.
I like the idea, but the alternative market that requires all shares to be registered has to be much, much larger (right now just Overstock.com) before it would be considered anywhere legitimate.
Hope it forces SEC to get off their asses and moving on reaching T+0 trading across the board.
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