Re: Shorts
in response to
by
posted on
Jul 11, 2022 05:57PM
(Edit this message through the "fast facts" section)
Borelly, you've opened an interesting question re: Shorts. I've dug into it a bit and the answers so far range from switch to a cash account, get certificates for your shares, put in a high sell order to lock them up or just tell your Broker, No.
Then I see this "Putting in a GTC sell order does not preclude your brokerage firm from loaning them out—-I worked in the business for 30 years —if we had em, we would loan em—"
Which brings up another issue. Naked shorting "WAS" illegal. Now we know there is no one monitoring any of this as Gamestop actually had a criminal float of 140% when all the shorted shares were accounted for. And we also find out naked shorting is now rampant. Does anyone monitor whether brokers are loaning shares they shouldn't.
Rules don't matter to many people these days and there are no adults (at the moment) to fix it.