I keep hearing about the upcoming short squeeze regarding returning stock for the RS and payment of the Preferred. Out of ignorance, I ask this question: " What is the penalty for not returning the stock, and not paying the Preferred?" Does the short trader go into default? So what, is the penalty? Is it more than what they made on the short sale to begin with? or, nothing at all?
Someone told me that they had their account frozen and all trading suspended. Then they had to pay a fine for "failure to... something or other" But then they were right back in it. So (hearsay) the answer is... not much.
it's much ado about nothing....the shorts can't get ahold of the preferred without owning the common but since everything reverts back to the common and the underlying foundation and liquidity of NFI is the common..........WHO CARES..........the Shorts can keep shorting it into OBLIVION......why do you keep espousing that the preferreds have ANYTHING Tangible to do with the Shorts having to COVER...it might as well be a different Stock completely....
Easy ? for you geniuses....DO YOU SEE THE SHORTS MANIPULATING THE NFI-PC? No Because its not the MAIN LIQUID ASSET THE COMMON IS GOOD GOD YOUR OBLIVIOUS!!