July 28, 2008
I don't have proof, but these are but two examples of stocks I would bet are being naked shorted. I have already addressed my disgust to the SEC at the lack of oversight of markets in microcaps. I expect the government to represent small companies, the engine of innovation in our country, better. You have hamstrung most of these publicly traded companies from raising money by potentially allowing larger competitors or large hedge funds--with their deeper pockets-- to suppress share prices. This prevents small companies from raising capital at fair prices, prevents fairly priced strategic acquisitions, and potentially forces these companies to sell themselves to larger competitors for unfair prices.
Boo!
Mike Zelvin