clubhouse19 wrote: Are you so miopic that you think GCM mainly trades in the US ??
Or do you think that shorting rules are the same in both jurisdictions.
check it out
https://www.iiroc.ca/news/Pages/Short-Sale.aspx
last period 30% of all trades were short . The short position only reflects those shares that were not covered Forget about sho regulation in the US ..does not apply to Canada...rules are different
IN the us shares have to be borrowed or set up settlement prior to shorting.
Not the same in canada where 90% of the traded volume is executed.
Naked shares that are not settled are NON EXISTANT ( counterfeit) and not the same as borrowed shares...very fundamental. Shares that are borrowed are due dividends
In canada they have literally 10 days to settle their nakedness ..plenty of time to naked short and cover before they even get noted and called out.
menoalittle wrote: regardless of the (broker's) ability to naked short, they still have to pay the dividends (if due), even if FTD's aren't all reported (but should be.) If a brokerage account is owed a dividend on the stock, then some broker somewhere is darn well going to get charged for it. So it's nuts to think that a record isn't being kept of who sold it and then failed to deliver.
beside (or, perhaps in light of) that, outstanding short positions on GCM have been declining. last report (1-15-21) they were 178,660 less than the previous (end of year) report.
furthermore, considering the number of outstanding warrants, any shorting (naked or not) doesn't actually appear to be much of an issue here. some here are evidently way to focused on the day to day trading (and much pure speculate about what is happening) rather than the much broader picture.