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Dendreon Corp. Message Board

  • havenger2021 havenger2021 Feb 26, 2014 11:17 PM Flag

    Fail-To-Deliver and DNDN PPS

    According to the SEC website, the following data showed Fail-to-Deliver of DNDN shares ("naked sales") and its effect on PPS:
    Date------Ticket---Failed-Company name--------------------PPS
    20140115|DNDN|42472|DENDREON CORPORATION|3.30
    20140116|DNDN|54581|DENDREON CORPORATION|3.33
    20140117|DNDN|79803|DENDREON CORPORATION|3.12
    20140121|DNDN|26005|DENDREON CORPORATION|3.18
    20140122|DNDN|19710|DENDREON CORPORATION|3.22
    20140123DNDN|2576--|DENDREON CORPORATION|3.01
    20140124|DNDN|34687|DENDREON CORPORATION|2.88
    20140127|DNDN|194407|DENDREON CORPORATION|2.82
    20140128|DNDN|348968|DENDREON CORPORATION|2.69
    20140129|DNDN|259115|DENDREON CORPORATION|2.74
    20140130|DNDN|1237620|DENDREON CORPORATION|2.79
    20140131|DNDN|837510|DENDREON CORPORATION|2.85

    On 01/27, 194407 "naked" shares were sold to drop PPS from $2.88 to $2.82
    On 01/28, 348968 "naked" shares were sold to drop PPS from $2.82 to $2.69
    Then, on 01/29, shorties covered 89,853 shares (259,115 "naked" shares remained) and PPS went up to $2.74
    On 01/30, shorties went all out with counterfeit shares again and "naked shorted" another 1,237,620. This time they failed to suppress PPS, probably because of larger buyers scooping up shrs at cheap price.
    The next day, they covered 400k shares and PPS went up to $2.85. (837,510 shares remained "naked").

    So, the bottom line is: this is shorty HFs' scheme to artificially suppress DNDN share price. They created counterfeit shares out of thin air (with MM as accomplice) , flood the market to cause an imbalance in Supply and Demand.

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