The Naked Truth - Big Kahuna a Myth Message Board

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To: Lizzie Tudor who wrote (39685)	5/8/1999 12:48:00 AM
From: IceShark	Read Replies (2) of 86076

Generally that is correct Michelle. Stocks under 5 bucks fall off the marginable list. I believe that is a Fed Reserve rule. Anyway, once it is no longer marginable you can't borrow it to short in the US. Which is a problem with some of Anthony@Pacific's short targets - you need an offshore account. Something goofy is going on with these crazy 10 and 25 for 1 splits which is smelling like a scam. Knocking the stock down to penny status wouldn't cause existing shorts to cover, and really determined new ones would go offshore to short. I can't think of a legit reason a company would want to do it. I can think of a bunch of scam reasons to do it, bid/ask trading spread jumps to mind right away. Better be careful if you are thinking about shorting 'em cause they are no doubt being manipulated by crooks.

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