Volume today about 123,000. Most all of it was a downtick. 81,000 were shorted . Which means they were shorting on the down tick for the most part…and "opening" position". Funny how the SEC says there is only 5,00 short in RGRX? Scam. The main MM, likely NITE, is short several million shares at least, I bet. Another 81,000 today. They can short on a downtick. They use the MM exemption to NOT report their short sales to the SEC. They hide what they do. Basically they control RGRX as they wish. Nothing we can do about it.
Hey Sno. have you ever heard argument below on the finra short #'s. It was presented on another board. I don't agree, but wanted your thoughts.
Those figure are misleading because they actually represent a function of how the MM's often handle transactions. For example if a long puts in a sell order of 10000 shares of VASO thru their broker, the order then gets routed to a MM who first sells the 10000 share to the market BEFORE having the actual shares. The long's broker makes the transfer of the shares to the MM. The reason that this appears as a short on the FINRA site is because the MM sells without owning them, exactly like a short sale. This is just a function of the settlement process
I don't see that happening every time. Why would a "broker" with an order, SELL the 10k shares to a MM, who then sells it to a trhen bidding other MM? Makes no sense. It is all computerized and the broker elctronic order flow is matched directly to the MM who is bidding. If you add another MM in the middle who sells the 10k shares first, you add a middleman in the whole thing. Orders are electronic. The 10k sell order goes direct to the best MM bidder, here is usually NITE. NITE buys the sell order.. He buys what customer sells. Plain fact is…MM's have a market maker exemption. They don't have to either borrow shares or report short sales, as long as it (supposedly) is in ordinary course of daily market making. RGRX short is is far larger than 5,000 shs reported SEC.
Without any meaningful news, no way can RGRX go up. The MM will just sell, short and offer as many shares needed - to keep it down…likely to protect his multi million share short position. And anyone who thinks I spout conspiracy, just compare the SEC short interest (maybe 5,000 shares short) to the daily FINRA. 70% of RGRX volume was short yesterday…….81,000 shares worth. It's basically been like that for years now.. The MM is also very willing to sell and print down to bring on more tax loss selling. He's trying to get that out.
In the end the MM may be the correct one. He's been right so far, and we've been wrong. I just wish RGRX woudl get it over with…belly up - or not. Give us the news.