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Microcap & Penny Stocks : VLVT (was CSMA)
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To: TraderGreg who wrote (3802)12/17/1997 7:44:00 PM
From: David Smith  Read Replies (1) of 11708
 
Greg, you are wrong. I thought we went though all this.

Let's say XYZ stock has 1 million shares in the float.

Investors of 900,000 shares call for their certs. Said investors get certs.

Now MM's start shorting the stock without borrowing. They sell an additional 300,000 shares.

NOW the investors of these new shares call for THEIR certs. There are not enough certs available. The brokers where these investors bought will have to contact the selling brokers through the transfer agent and demand that the sellers of those 'vapor' shares come up with REAL certs. Only way they can do this is to buy on the open market but they will not be readily available so a short squeeze takes place.

Sorry, but 'Insider' is wrong.

David
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