Naked short-selling is a thing. Actually, it really isn’t. But that hasn’t stopped a group of hucksters, led by a cynical lawyer, from conjuring an excuse for meme-stock collapses — and creating a community now talking up violence against anyone in their way.es Christian, like most true believers, talks with the kind of black-and-white assurance that rarely exists in our complicated world.
These secretive puppeteers, according to Christian, use an alleged market manipulation tactic known as “naked short-selling” — the idea that people sell shares of stock they don’t own without actually bothering to borrow an offsetting number of shares before the ride down .
Like most perfect narratives, this one isn’t true. It’s doubtful that “naked short-selling” even exists anymore. In 2008, the SECa rule called Regulation SHO, and made naked short-selling all but impossible, according to Pradeep Yadav, a professor at the University of Oklahoma who studies financial markets and says there’s actually no way “to associate a particular short-sale with a particular failure to deliver.
, the managing member of One Hat Research, which provides expert testimony regarding litigation claims valuations and settlements, tellsUnfortunately, the ramifications from people like Christian aren’t funny.
You can feel the kettle boiling, as a legion of retail traders, struggling for reasons that trees don’t actually grow to the sky, have taken to blaming — and physically threatening — everyone from whistleblowers to
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »