News out this morningNo longer rumour!
ORIGINAL: Rio2 Retains BUYINS.NET to Surveil Short Sellers and Market Makers
2020-04-30 08:45 ET - News Release
- Approximately 10 Million Total Shares Shorted in US Since March 2019
- Approximately 35 Million Total Shares Shorted in Canada Since March 2019
VANCOUVER, British Columbia, April 30, 2020 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that it has retained BUYINS.NET, https://www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance. BUYINS has initiated coverage on Rio2 after releasing the latest short sale data through April 27, 2020. The total aggregate number of shares shorted in the US since March 2019 is approximately 10 million shares. On average approximately 55% of daily trading volume is short selling. The SqueezeTrigger price for all RIOFF shares shorted is $0.31. A short squeeze has begun in the US as shares of RIOFF have exceeded this level. In Canada, (TSXV: RIO) has a C$0.42 Trigger Price. A short squeeze is underway in Canada as well.
View Report: https://www.buyins.io/reports/rioff4-28-20.pdf
View US SqueezeTrigger: https://www.buyins.io/images/rioffstr4-28-20.JPG
View Canada SqueezeTrigger: https://www.buyins.io/images/riostr4-28-20.JPG
View Friction Factor: https://www.buyins.io/images/rioffff4-28-20.JPG
View detailed explanation: https://www.buyins.com/brochure.pdf
Friction Factor calculates if a fair market is being made in the shares of RIOFF. 63% of the previous 35 trading days have been positive or bullish-biased and 37% have been negative or bearish-biased.
Regulation SHO requires bona-fide market-making activities to include making purchases and sales in roughly comparable amounts. The Commission has stated that bona-fide market-making DOES NOT include activity that is related to speculative selling strategies for investment purposes of the broker-dealer and is disproportionate to the usual market making patterns or practices of the broker-dealer in that security. Likewise, where a market-maker posts continually at or near the best offer but does not also post at or near the best bid, the market-maker's activities would not generally qualify as bona-fide market-making. Moreover, a market-maker that continually executes short sales away from its posted quotes would generally not be engaging in bona-fide market-making.
BUYINS.NET monitors RIOFF market-makers daily for compliance with Fair Market-Making Requirements.