RE:RE:RE:RE:RE:RE:RE:RE:Fund Manager: NILI has SPECTACULAR GRADES How is it a waste of time for an algorithm? Setting the buy/sell seed order to repeat takes very little effort as, once triggered, it is automated.
Keep in mind that we peasant retail buyers cannot engage in shorting under a particular price, but the brokerages can -- and do (if you take the time to look at the number of short positions reports in any penny stock). We also do not have access to level 3, which shows stop losses.
Now, if I was ITG or Cannacord watching retail chase after, say, BIG or some other penny stock, riding the FOMO waves from one NR to the next, I'd note a pattern to be able to nudge the pump and then short it freely when the bloom is off the rose. Why would I not? It takes hardly much time at all to set up those kinds of orders to trigger across a plethora of TSX-V names.
And do you actually believe there is no naked short activity going on? Those would be some serious blinders.
Just as a test, next time you speak with your broker, see if you can insist on two conditions on any buy or sell order: 1. It cannot be rerouted to ATS, so you're more than happy to wait out the fill on the order on the open CSE; and, 2. Demand that your shares can never be borrowed. What would be interesting is if there was compliance over those two requests.