Emblem Corp EMMBF

RE:Whats all this about shorting?

[Seraphim1]

brentkosta wrote:

I'm in on the private placement and naturally, happy with the way the market has accepted EMC. Saying that, I dabbled with shorting my entire position to lock in profits here at about 4 and a quarter. 

I'd really like to know where people are borrowing these shares from. One guy on twitter says he short sold EMC from a questrade account (he was in and out in a day). Not sure how a discount brokerage like questrade is facilitating what MUST be a naked short. 

My full service broker advises that I could short although would probably be called upon within a week to cover due to a lack of inventory. I could naked it and cover before the trade clears with the credit dept. 

Either way, I cant get a 2+ month short position. No way. I'd have to cover and sell over and over and that leaves a recipe for disaster not to mention the cost to of being margin called on an obviously promoted runner like this.  
 

As per the short report we know there was about 450k shares short mid Dec? Where are people getting these shares from? Are they all naked shorts being covered before the trade settles? 

As far as I knew there was only 5 million shares in this float which were purchased from the short form, pre IPO. Havent been tracking any other shares dripping into the float.

EMC insiders have clearly done this before and I commend them on setting up this public vehicle the way they did. 


 

Interesting. According to my full service brokerage house, they will not consider shorting any stock under $5.00. I suppose it comes downt to the brokerage policy.