You sure are. And I just bought 10,000 friday and have no plans to sell them back to a short anytime soon. Good luck. Hope you can find a seller when the short squeeze finds you in a panic.
I agree. Naked short selling should be illegal. Period, no exceptions for MMs, etc.
Its just pure fraud. Selling something the seller does not possess and never had any intention of ever delivering, yet the seller gets the cash for the purchase.
Legit shorting is absolutely fine, if the shorter actually borrows real owned shares from another party and uses them to sell to buy back later then everything is fine. The Outstanding share count does not change and there are shares always available to buy back as long as the price is right. With naked shorting, bets are getting made against long shareholders over and over without any shares (borrowed) to back up the bets. They are just endless IOUs. Its criminal.
It artificially inflates the OS and it snow balls into a problem because eventually the number of failures grows so large, all the naked short sales cannot even possibly be closed because there are more NSS bets than there are outstanding shares so everyone loses except for those who initiated the illegal bets because they never have to cover, those NSS bets just sit out there in the ether and the SEC/FINRA/DTC do nothing about it because there are so many loop holes.
Its a big problem and partly to blame for the collapse in 2008/2009 of Bear Sterns and the stock market.
Naked short selling is just plain fraud, and it allows for the "bookies", the brokers, to just notate on their little black books that you made a trade at some point when you "bought" "shares", instead of going out and finding you shares in T+3, they just note their little criminal books and never actually buy you real shares in the market, then it goes lower and eventually you get out and all they do is give the buyer on the other side of your sell shares from the market at a discounted rate from the cash you paid the broker to buy those shares a long time ago, effectively allowing them to steal money from their own clients ("muppets").
Criminal mechanics like NSS in the market need to be closed down once and for all, even if it slows order execution down and thins liquidity. Oh well, as a long I would rather just wait until real shares become available to purchase rather than getting an IOU electronic marker right away. If it takes time, that means no one with real shares wants to sell at your bid price right now, oh well, raise the bid! Simple! Eventually the higher prices would wake some sellers up and liquidity would come into the market, that is or at least should be the natural "price discovery".