"Placing fake sell orders, and worse, conspiring with others to do so, even at inflated prices, gives short sellers the green light. It allows them to point to available shares to be able to sufficiently demonstrate to their counterparties and regulators that they will be able to close expanded short positions.
I was not duped by this, but others apparently were.
I am watching the effects on POET's stock price subsequent to these spoof orders being placed. In my opinion, a conspiracy to place fake orders with no actual intent to sell creates additional selling pressure and unbalances the order book in favor of short sellers."
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This is exactly what was going through my head yesterday and this morning. Thank you for putting it down in text and clarifying what I couldn't explain. It's one thing to chit-chat about your exit strategy, but setting these "safety limits" in an organized fashion could be considered downright manipulation, and a dangerous game to play. At best it's a false and naive tactic innocently aimed at protecting the share price, while inadvertently creating artificial sell pressure as NYNNYS stated. At worst, it's a malevolent and intentional move to short POET into the ground. It needs to stop and those comments supporting it should be respectfully removed by the mods.
If you thought we were being manipulated on the venture, the level of corruption in the Nas will make your head spin. Young companies, and even mature names are driven into oblivion on a regular basis by predatory short sellers. I have personally begun the process of transferring my shares over to POETs transfer agent, Computershare. If you are long on POET and truly don't want to see any of your shares lent out to predatory shorters or penny flippers, direct registering your shares in your name is THE ONLY WAY - full stop - to prevent those actions.
Not telling anyone what to do, just my stance. I don't generally like to get into these topics and would rather stick to the company fundamentals, but with all the talk on the board as of late it's worth addressing.