Originally Posted by
Jay Wilson
The fact that the short interest increased in March has me puzzled. It isn't just that it seems crazy to me to short this stock at this level. It seems like it should be impossible to find shares to short at this level.
I was under the impression that you couldn't short a stock unless someone had margined against that stock in their account. Those are the shares that are lent out by the brokerage houses to the shorts. At these price levels, Sirius isn't a marginable stock is it?
Also, I was told at some point that you couldn't short a stock below $3.00. Is that totally incorrect? I'm not sure if there was a rule change, or if I was given bad info.
I've probably been misinformed, but with the rules I thought existed, just the fact that the short interest increased at all would prove that laws are being broken. Can someone set me straight? Thanks.