4 ms·
If the stock is borrowed it is a covered short. The problem is with naked shorts where you sell without even locating. Or when you put 'three dots' (as the Gol
by pieceofpeace 17y ago
If the stock is borrowed it is a covered short.
The problem is with naked shorts where you sell without even locating. Or when you put 'three dots' (as the Goldman Sachs compliance officer remarked in a conference) in the text field to report where you have located or borrowed the shares.
In short (pun intended) selling without borrowing proves destructive for the price of shorted shares.
- yangyang 17y agoIndeed. I did read the article and I'm aware of that anyway. I was responding to the comment.
- pbhjpbhj 17y agoIt's incredible really that this was allowed to happen - if you've enough money then you're allowed to sell shares in a company you don't have any interest in (ie don't own shares of). Idiocy. Anyone want to buy Manhattan, ... the title deeds, oh I'll show you them next week.