Some interesting articles on naked short selling I
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Posted On: 03/08/2023 4:35:33 PM
Some interesting articles on naked short selling I came across. It is a lengthy read, but very interesting. You may find some familiarities in these articles with what has happened, is currently happening, and what is planned for VERB to fight naked shorting.
Why This Micro-Cap Company Is Targeting Naked Short Sellers
"Recently, Creatd drew the market's attention after an announcement that it would engage with market surveillance firm ShareIntel to protect its shareholders from naked short-selling activities. "
Verb Technology engages ShareIntel to investigate alleged illegal short selling
"In the middle of this year, AMC created the AMC Preferred Equity (APE) unit as a non-dilutive dividend . Their "main" purpose is to add value to AMC, but APEs can also serve as a kind of share count for the AMC's total shares.
APEs may shed light on the use of synthetic shares by AMC short sellers — as AMC CEO Adam Aron himself pointed out:"
"Recently, market-making companies like Citadel Securities have been the subject of a lawsuit by biotechnology company Northwest Biotherapeutics (NWBO) for allegedly illegal trading practices such as spoofing. Spoofing is a manipulative practice in which a trader issues an order but then cancels it before it is executed. "
Are Naked Shorts Depressing Your Investment Portfolio?
"Empowered by the activities of Gamestop (GME) and others, a growing number of small-cap companies are devising plans to go after naked short sellers. This could help their companies trade at a fairer value rather than be artificially depressed by illegal trading practices.
Companies involved in heightening integrity in the markets for their stock are companies like Verb Technology Co. Inc. (VERB) , a provider of interactive video-based sales apps with operations in Newport, California, and Lehi, Utah. Verb said this week it was joining education company Genius Group Ltd. (GNS), e-scooter and e-bike maker Helbiz (HLBZ), and Creatd Inc. (CRTD) designed for creators in coming up with measures to ensure “greater integrity in the capital markets” as Verb Chief Executive Rory J. Cutai said in a statement.
The move gained impetus last week as Genius Group said it had appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock, first disclosed a few weeks ago. Genius CEO believes there has been a measurable cost to the company. “We want this to stop,” he said. “They’re taking value away from our shareholders. They’re predators. They’re doing something illegal, and we want it to stop, whether that means getting regulators to enforce existing regulations or put new ones in place,” he said."
"Recently, companies such as AMC have paid a special dividend to determine, and frankly hurt, those short sellers that have not abided by the rules by first borrowing the security it sold."
"Last week Helbiz said it was going to punch back at naked short positions."
The more, the merrier. There is strength in numbers.
Canada's IIROC Gets Serious About Naked Shorting: What Could It Mean For Cannabis, Psychedelics, Meme Stocks?
NAKED SHORTS CAN’T STAY NAKED FOREVER
"Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock.
Once that CUSIP changes, the naked shorter has no apparent way to close out the naked short position. No stock under the old CUSIP number exists anymore; it all automatically converts to the new CUSIP."
Why This Micro-Cap Company Is Targeting Naked Short Sellers
"Recently, Creatd drew the market's attention after an announcement that it would engage with market surveillance firm ShareIntel to protect its shareholders from naked short-selling activities. "
Verb Technology engages ShareIntel to investigate alleged illegal short selling
"In the middle of this year, AMC created the AMC Preferred Equity (APE) unit as a non-dilutive dividend . Their "main" purpose is to add value to AMC, but APEs can also serve as a kind of share count for the AMC's total shares.
APEs may shed light on the use of synthetic shares by AMC short sellers — as AMC CEO Adam Aron himself pointed out:"
"Recently, market-making companies like Citadel Securities have been the subject of a lawsuit by biotechnology company Northwest Biotherapeutics (NWBO) for allegedly illegal trading practices such as spoofing. Spoofing is a manipulative practice in which a trader issues an order but then cancels it before it is executed. "
Are Naked Shorts Depressing Your Investment Portfolio?
"Empowered by the activities of Gamestop (GME) and others, a growing number of small-cap companies are devising plans to go after naked short sellers. This could help their companies trade at a fairer value rather than be artificially depressed by illegal trading practices.
Companies involved in heightening integrity in the markets for their stock are companies like Verb Technology Co. Inc. (VERB) , a provider of interactive video-based sales apps with operations in Newport, California, and Lehi, Utah. Verb said this week it was joining education company Genius Group Ltd. (GNS), e-scooter and e-bike maker Helbiz (HLBZ), and Creatd Inc. (CRTD) designed for creators in coming up with measures to ensure “greater integrity in the capital markets” as Verb Chief Executive Rory J. Cutai said in a statement.
The move gained impetus last week as Genius Group said it had appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock, first disclosed a few weeks ago. Genius CEO believes there has been a measurable cost to the company. “We want this to stop,” he said. “They’re taking value away from our shareholders. They’re predators. They’re doing something illegal, and we want it to stop, whether that means getting regulators to enforce existing regulations or put new ones in place,” he said."
"Recently, companies such as AMC have paid a special dividend to determine, and frankly hurt, those short sellers that have not abided by the rules by first borrowing the security it sold."
"Last week Helbiz said it was going to punch back at naked short positions."
The more, the merrier. There is strength in numbers.
Canada's IIROC Gets Serious About Naked Shorting: What Could It Mean For Cannabis, Psychedelics, Meme Stocks?
NAKED SHORTS CAN’T STAY NAKED FOREVER
"Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock.
Once that CUSIP changes, the naked shorter has no apparent way to close out the naked short position. No stock under the old CUSIP number exists anymore; it all automatically converts to the new CUSIP."
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