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Hutchinson Technology Inc. Message Board

  • longtimefollower longtimefollower Dec 22, 2011 8:20 PM Flag

    My broker screwed me. Is yours doing the same.

    Amazingly, I noticed my share total on my proxy was much lower than it should be. I called Fidelity for an explanation, and they told me, as of the record day, they had LOANED OUT 150K of my shares to short sellers, and I could therefore not vote those shares.

    I have since told Fidelity to put ALL of my HTCH shares in my cash account. I remind all of you out there, that if you have a margin account, there is no reason you should keep your HTCH shares in that margin account; you are only allowing your broker to make "free" money off of you, by loaning out the shares, and allowing short sellers to drive down HTCH stock.

    Everyone who holds this stock in a margin account should consider very seriously whether you want to move it to a cash account or not. There's no reason we should be advancing the interests of the short sellers. Anyone short this stock, at this point, is a fool. It's time for them to be SQUEEZED.

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