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Microcap & Penny Stocks : Corporate Vision (CVIA)
CVIA 0.4800.0%Jun 30 5:00 PM EST
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To: Milk who wrote (1587)1/13/1998 11:55:00 PM
From: Milk  Read Replies (1) of 6654
 
* ALL: The CVIA Clearinghouse * Just received the following question from a non-member:

From: <jmyers@neo.lrun.com>
To: <milk000@hotmail.com>

Milk,
I have a question: Lets say that brokers/MM's/etc. short CVIA on the news of the REG S. (why they would I don't know, what could they stand to make from a .02 stock?..) but...If they change the name and symbol, do the MM's have to cover their short? Does a name/symbol change force a MM/etc. to cover the short?..

Any comments? Here is a related paragraph regarding short selling of Reg S securities:

"The drop in price is generally the result of short selling. Taking short positions in the public float to offset a Regulation 'S' transaction is illegal under US securities laws. However, by definition, Regulation 'S' buyers are outside the US and many are unconcerned with the enforceability of US laws. As such, if the discount is sufficient, they can lock in a profit by shorting the stock and delivering against the short position after 40 days. As long as the short position is sufficiently greater than the purchase price and carrying costs, then the buyer is still richly rewarded and the stock drops considerably in the face of the extra selling pressure due to the short."

More at offshoreinvestment.com

Thanks everyone,

Milk
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