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Technology Stocks : Globalstar Memorial Day Massacre
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To: Maurice Winn who wrote (12)5/9/2000 6:58:00 PM
From: A.L. Reagan  Read Replies (1) of 543
 
Maurice - this may or may not be true but have heard it said that some brokers will be hesitant (or won't) let stock out on the borrow which is subject to a pending GTC sell order. (Otherwise, if the GTC were executed, the broker could be at some risk calling back the borrow to deliver the sold shares if there really were a legit short squeeze.)

There are some possible logical holes in this theory (like what's the difference if the brokerage client just executes a market order and the stock is out on the borrow).

Am wondering if anyone else out there has heard that placing a sell order (at say some high, high price) will restrict new borrowings, based on the individual brokerage's risk policies, not SEC rules or anything like that, or whether this is urban myth.
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