Reconnaissance Energy (Africa) Ltd V.RECO

shorts are stubborn

[Matteo1234]

One of our picks for the most exiting oil plays of the last decade, Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) appears it may have come under heavy short selling as revealed in a recent report by Buyins.net. https://www.buyins.com/reports/recaf5-25-21.pdf

[Matteo1234]

In Canada, the numbers seem even larger. The report shows that a shocking 113,188,174 shares of the company have been sold short since May 24, 2016 (inferred from US short selling average in RECAF). That number tells an even more surprising story in combination with the charts below that we think expose the truth: the majority of this short position may have started in the middle of

[GorgeousGeorge1]

And how many have since closed those positions? 116,000,000 shares sold short since 2016, ok. That doesn't mean those positions are still open! For perspective - What are the total number of shares traded since 2016?

[crude]

FRIDAY i placed an order to flip 250 shares into the warrants - my broker replied "shares not available " - these shares are being used to SHORT - ALL OF MY SHARES ARE PLACED TO SELL @ $250  FOR 30 DAYS EXCEPT THIS SMALL ACCOUNT - Please put your shares in @ $250+ for 30 days - to kill the shorts

[peterj99]

You probably must be using a margin account. I can't see how any broker could stop you from using your own shares if they were not in a margin accound. mpo

[crude]

This is NOT a margin account .  It is a small account i use to flip to add shares. They can use your shares and they are supposed to pay you minimal amt of interest if they use them. When you place them (under contract )  for sale they can not use them. So if you place them for sale the number of shares availeble for shorting is reduced and this creates the short squeeze Please put your

[crude]

You gave your broker permission to do this when you opened your account !!!

[peterj99]

Google it Are you in Canada? :If you call your broker requesting to short a stock or an exchange-traded fund (ETF) in a registered account (e.g. RRSP or TFSA account), your broker will reply that the tax regulation does not allow such transactions in registered accounts. In fact, short selling is only available in margin accounts.Apr. 9, 2018"

[WHVWHV]

Hey Crude I am puzzled by this, can you please share a little more information on the type of account  and the other related detail. I have a lot of shares in several different accounts and a few weeks ago I wanted to short some shares using RB. I had about 100,000 shares long in a margin account and wanted to also short 20,000 in the same account as a quick trade. There was lots of cash and

[crude]

I do not use margin, by choise , but this account would , or could be margin. The shorts on RECO are in the 10s of millions and my question is if the shares are borrowed to use as shorts ,then later i decide to put them for sale , when i wnt my shares back is the short position forced to return them if no other stock is available ???? COMMENT WELCOME