Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: TraderGreg who wrote (1606)	11/22/1997 10:03:00 AM
From: Dick Jaffe	Read Replies (2) \| Respond to of 11708

I wish someone on this thread would enlighten me on how the original 700,000 share shorter was able to do that. As I understand it, in order to short a stock it has to be marginable and BB stocks are not marginable. I also understand that market makers do have the capability of naked shorting. But the 700,000 short was not a market maker. He was described as an individual who had some connection to the company and thought he was due 700,000 shares as a result of some contractual agreement. So, allegedly, he then decided to sell in advance of receiving his shares. Then he never got the shares and angrily continued to short them. HOW DID HE ACCOMPLISH THIS IF HE WAS NOT A MARKET MAKER? David Smith, can you cast any light on this? Dick