Originally Posted by
relmor2003
Sl62. The intent of the lent shares was so they could enter a short position, and NEVER have to worry about buying the stock back to cover. Thats fine. Enter your position, and go away. If its truely just a hedge against your bonds not being paid, then fine. If that was their true intention, which we know it is not. Since they are working with a free short, they are going to use those shares to MANIPULATE THE STOCK down, and keep it down as long as they can. This is the illegal part. Lending shares to hedge is one thing, but purposefully using those shares to affect how the stock trades on a day in and day out basis is not. So your wrong. It was illegal then, and its illegal now. What would you say to the naked short position already established way before the SiriusXM merger details were announced? The way the stock traded the second news of the merger details came out more and more, and with no news on the merger details, this stock NEVER held gains, and jump around like a bunny rabbit. All gains were erased, because the short was already active. It knew something before we did. That the merger details would be terrible and go down bad. It was not a artbitage play against the common, that is just ridiculous. If I heard that arguement again Ill throw something.
No where do I read, you can use these shorts to create a short wall, to attack the stock price at your discretion, offering these lend shares as sales on the open market, and to rebuy these shares at a lower price, and repeat. Didnt read that line, sorry. No, this prospectus does not allow what we are seeing here, and its complete conjecture to assume it is these shorts doing it in the first place.
Its also 100 percent irrelevant which shares are doing it, and whom. Its illegal any which way your go. Do I think a million complaints will matter? Probably not, but I dont KNOW THAT.
Not argueing with you sl62, my tone is calm. Its all good.