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Metabolix, Inc. Message Board

  • short_man_calamity short_man_calamity Jan 22, 2013 4:42 PM Flag

    Only Eno can stop this

    The shorts are now making their second attempt to drive shares below a dollar (the first started in early October). Last week they started an internet trash campaign to try to scare away new investors. It also appears as if they may have restarted their end day effort to close lower each day… Watching the end of the day activity someone worked fairly aggressively to guarantee that it would close down.

    Eno, you have a bad case of the shorts, they are working and manipulating everything they can and even your top supporters (here and elsewhere) are growing weary and silent. If you want to put an end once and for all to this you need to give us some real news. I realize that in the past you’ve saved news to go hand in hand with earnings but this is a new year and the shorts are making a concerted effort to drive your stock down in hopes of getting it delisted. If you have news about a new partnership then please don’t save it until earnings. If you have news about progress with Antibioticos then please consider sharing that ASAP and don’t save it until earnings. If you have a commitment for production of C4 chemicals then please share that. Anything you can share that will help prove the shorts are wrong and help support investors would be appreciated. The shorts are counting on a late quarter earnings report and nearly two months of time to continue their pressure on this stock. As one of many investors who would like a little support I’d like to encourage you to speed things up and share whatever you can as soon as possible.

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    • FYI… An article by Reza Ganjavi that I found during a Google for this question:

      “A question among many retail investors' mind is how to prevent short sellers from borrowing our own shares. This is a good question because when our shares are lent to short sellers the shares are effectively used against ourselves in helping put downward pressure on our stock. In principle, if people can't borrow shares they can't do further short selling. There are exceptions to this principle, i.e., naked short selling which is done both legally and illegally. Market Makers are allowed to legally naked short a stock as long as they stay within the parameters of law. Whether the legal requirements are always followed is another story… Many retail investors think by placing a Good Till Canceled order (GTC) they can prevent their shares from being lent. A quick survey of some brokers indicated this to be more of a myth than reality. While some brokers may act as such, most don't recognize an open order as prohibitive of lending shares. The surest way to prevent lending of shares is to have shares in a "Cash" a.k.a. "Type 1" account. Some brokers like Fidelity Investments allow positions to be in Type 1 and Type 2 (Margin) in the same account. Some like Scottrade do not allow mixing of Type 1 and Type 2 in the same account so a customer has to open two separate accounts, one as Cash and one as Margin. Moving shares between account types is simple - some brokers even allow it to be done on the phone - some require a fax or email confirmation.

      Different brokers treat margin accounts differently as stated in their margin agreement. Some like Charles Schwab (NYSE: SCHW) only lend out shares up to the amount of the account's margin debit balance. This is a more favorable treatment than Wells Fargo's (NYSE: WFC) policy that regardless of carrying a debit balance or not if you have shares in a margin account they're lent out. This is in line with Wells Fargo Brokerage's poor ratings. Scottrade is somewhere in between. They will only lend out shares if you have a debit balance but even a 1 cent debit balance allows them to lend out all your shares (although their margin agreement says they can lend out shares in a margin account regardless of whether there's a debit balance or not). The best way to prevent borrowing of shares is to have all of one's shares in a Cash account, or transfer the shares to the Transfer Agent, or get a certificate. If margin buying power is needed a good practice is to have only enough shares in a margin account to give the buying power one needs and the rest in a Cash account… Lastly, some brokers have a securities lending program which return to the customer some of the interest earned from lending their shares out. Some brokers just pocket that interest and the customer gets nothing for lending shares out. In my opinion lending out shares is never a good idea because it makes your shares work against yourself, and even if you earn a bit of income, you'd probably make more from a rise in the stock price which you'd help with by not making your shares available for shorting.”

      Sentiment: Buy

    • I trust that made you feel better, because I can assure you that Eno doesn't give a flying rip what some 2 bit retail buyer thinks he should do. He has plenty of institutional investors and lawyers to worry about. I guarantee you that the institutional investors he's burnt after recent secondary offerings have given him a much more compelling case to announce some positive news. Too bad that history CLEARLY shows that Eno NEVER delivers. Stock market keeps going up, and MBLX is stuck in the mud. Believe it or not, you should be happy that MBLX price has stabilized at around $1.50 - $1.60. If it wasn't for the insider buying this stock would be below $1 now.

    • Let us hope Eno Reads your post , excellent, thank you

      Sentiment: Hold

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