Read before it is removed Article exposes market manipulation and naked short selling. Reads like a John Grisham novel. Cheers. Archived version below and direct link to reddit post.
https://archive.is/GUU8k
;)
..This will be probably be BANNED on wallstreetbets. Awaiting moderation as we speak. It’s been 8 days now...
https://www.reddit.com/r/StockMarket/comments/lbpj3f/robinhood_toobigtoofail_and_naked_short_selling/
”Robinhood, Too-Big-Too-Fail, and Naked Short Selling”
Q. Have you heard the term "pay for hold"?
A. Yes.
Q. What's your understanding of what that
is in relation to locates?
A. I think it's borderline illegal, but
allegedly some firms would try to preborrow the
stock before they actually did it so if they wanted
to short the stock the borrow would be there.”
—Marc Cohodes Highly Confidential - Attorneys' Eyes Only, Friday, November 18, 2011 11:09 a.m.