Tue, Jul 29, 2014, 12:14 AM EDT - U.S. Markets open in 9 hrs 16 mins

Recent

% | $
Click the to save as a favorite.

Hemispherx Biopharma, Inc. Message Board

  • thisismyself@rogers.com thisismyself Jul 28, 2009 1:22 PM Flag

    Criminals may be BLOCKED by SEC from shorting tomorrow! LINK

    The SEC rule says that the morning of the 4th business day after coutnerfeit shares are sold short, they MUST be covered. If not, the criminals can no longer short the stock:

    http://sec.gov/rules/final/2009/34-60388.pdf

    Today is the 4th busienss day after wednesday's 43M volume day, the 2nd biggest in months, maybe ever. I think it's reasonable to believe that it probably likely that counterfeit shares were sold on wednesday July 22.

    Question is, will teh SEC enforce it? I believe they may, not baed on their years of non enforcement, but based on the fact teh REG sho list has dwindled by something like 80-90%, maybe more.

    If counterfeit shares were sold wednesday, I doubt criminals met the deadline today based on the relatively low volume and lack of price rise on the day...as a punishment, perhaps starting tomorrow they will no longer be able to short (until the covering occurs). I say tomorrow, because a lack of compliance with the law may not be noticed until after the end of trading day today, which may effect the penalty starting tomorrow.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
HEB
0.264-0.006(-2.19%)Jul 28 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.