May 2, 2008
I am a small investor who has lost thousands of dollars because of the naked shorting going on with one of my investments (CROX). This company has solid financials but has lost 90% of it's value mainly due to naked shorting. This company to date has 13.38% of it's shares owned by Insiders and 107.50% of it's shares owned by Institutional Investors. That adds up to 120.88% alone and does not include the shares owned by the small time investors like me. This figure has never, in the year or so I've owned this stock, gone down. Please, please do something to stop the practice of naked shorting. A stock should thrive or die based on how it conducts it's business, not because hedge funds and market makers destroy it. I'm sadly disappointed that the SEC has allowed this to happen and hope that you will do something immediately to put a stop to this practice. The playing field should be fair and level for everyone.