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Gold/Mining/Energy : Solv Ex (SOLVD)
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To: JJB who wrote (5119)11/24/1997 5:56:00 PM
From: Gary L Schultz  Read Replies (1) of 6735
 
JJB,

Interesting news. If the allegations of naked shorting is true (I have a hunch it is - but not sure about the extent) then issuing new shares would certainly force any offenders into the light.

Let's hope this is done so this issue can be laid to rest once and for all.

You might know the answer to this one as well. If a naked short position is taken, and later when one desires to close the trade: Why would this have a upward bias on the stock price - assuming there were no sellers in the market? Couldn't the position be closed with cash instead of stock - since no stock really existed in the trade to begin with?

Also, if you are short a stock that undergoes a reverse split (say 100 to 1) - can you then cover your short postion with the purchase of a single share of the new stock?

Regards,

Gary
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