I have 'good till canceled' sell orders at much higher prices in place. I did this so that my shares can't be used (borrowed) by those playing short games. I don't want someone else using my money to short to benefit themselves and hurt me. If I didn't do this, it would be like owning a gun and giving it to a robber that broke into my house, giving him all my money and then telling him to shoot me.
From what I understand, just so everybody knows, this only applies to NON cash accounts right? That is what I read. My accounts are all cash accounts, so I "think" I'm safe.
Sentiment: Strong Buy
This GTC order thing to prevent your shares from being lent has differing opinions out there. Some say it works, others say it is a myth. From what I have read, big time brokers probably have the resources to ignore GTC orders for lent shares unless that GTC order is close to the current strike price. And who wants to gamble with putting up a GTC order within striking distance of the current pps, especially a stock as volatile as this one has been.
And yes, if your accounts are cash accounts and not marginable ones, your shares are NOT available to be lent by the broker.
Thanks. Yes, you can also have your shares held in-house by way of certificates, but that requires paperwork. Also with certificates you can't sell at 'free will' and quickly on your own.
Firms need to keep a large percentage of shares for inventory to be used when investors buy on the ask. So it would only take about 10% of us to protect our shares to stop borrowing.