September 10, 2008
Dear SEC,
LDK has been on the Reg SHO list for almost 250 consecutive traiding days. The average amount of naked shorted shares is more than 10% of the available float. Institutions hold up to 70% of that available float, while shorts shares constitute almost 50% of it.
As you can see, the numbers don't match at all. It's a very big scam.
Naked Shorting is destroying America. Some individuals would do anything they can for their personal enrichment. Unfortunately, many honest normal people are affected by it.
Some companies are not performing well and it's normal for them to depreciate in value, but some others like LDK are plainly manipulated. Many normal people have part of their 401k invested in this company so they can have a normal retirement.LDK is performing incredibly well, but the Hedge Funds will use all their money and power to drop the price and benefit from it.
For you to get an idea abot LDK, last earnings, LDK achieved 300% over estimated numbers. They are a large company with a revenue of close to $2B this year and $5B next one, while margins keep increasing (they will soon finish the largest polysilicon factory in the world). We are looking at a P/E approaching one digit in a stock with a 200-300%+ anual growth.
Please, think about the honest American people that just have normal jobs, a modest house and a desire to have a decent retirement. It's worth to fight for them.
Please stop naked shorting. Please, look at the huge manipulation happening at LDK and make it stop. It won't be difficult to find the people illegally profiting fromt the manipulation. They deserve to be in jail.
Thank you
Sincerely,
Daniel P. Ferreira.