RE:One way to protect ourselves from shortersI love getting to repeat this post every few weeks on different boards...THIS DOES NOT WORK and has long been known to be a myth. At best you could call it a "retail placebo."
YES, it keeps
your nsignificant number of individually-owned shares from being used for shorting. But NO, it does not reduce or impede shorting in the least because there are tens of millions of shares in the hands of funds, brokerages and investment houses that can easily accommodate any amount of short-selling, given that short positions are almost always single-digit percentages of the shares outstanding. So every single retail shatreholder could do this "trick" and shorters could still borrow shares to short with. Doesn't work, wive's tale, urban myth, whatever you want to call it, but hey, whatever helps you sleep...
The better question to ask here is who in hell is crazy enough to try shorting DM right now while it's in the proverbial gutter? I'm not going to be bothered to even look up the short position because I'm fairly confident that it's almost nil and this whole line of conversation is a moot point.
So, bottom line:
1. There is no significant amount of shorting going on with DM, and
2. Even if there was, locking your shares with a high sell price
would not stop it.
Next myth, please...
PLAYA143 wrote: Place your entire DM shares at the highest price bank allows you to set at. Ex) 300k DM @ $0.55. Don’t worry your order won’t go thru, however, this can reduce the amount of outstanding shares that shorters can borrow to f@kk us!