That’s how I understood TDA when I spoke with them. But we may be overthinking it because he said they would not allow shorting of penny stocks. I was questioning if institutional owners could short and borrow my shares. I didn’t know and I would have to speak with the margin Dept on Monday.
“However in our case The NGIO shares can't be obtained so ??? In any case the affected party if there is one will be the lender not the buyer”
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.