Oct. 28, 2022
Mohamed Siam Pennsylvania State University Educational Specialist Good Evening, I am writing this letter to state my current disturbance with the amount of publicly available information on the US Stock market, the DTCC, and data related to shorting. My concerns are simple, in the US market I expect to have the information available as any other person who is investing. I am a humble investor who puts monthly payments into multiple stocks. After many months of research, myself, and many others have found that the vast majority of everyday Americans are concerned that the entire stock market is rigged. After diving deep into the inner working of the stock market I can only confidently state one thing. We simply do not have enough information to tell whether it is or not. The number of existing shares compared to number of shares traded on a daily in multiple stocks have seen fluctuation so high from the pandemic to today's date that many people are convinced that three stocks in particular are being heavily shorted, possibly many times over the legal float, despite many people being long on those said shares. In one case, even the chairman of the board and CEO has stated on multiple occasion that 90% of free float stock was locked earlier in the year. Despite this people can still buy the stock, furthermore, the stocks in questions have been at the top of the buy order lists for many days consecutively for months on end. I as an individual investor want to know what the SEC will do to ensure institutions that are shorting these stocks to the tune of millions will do to enforce reporting of these short sales. Furthermore, I would like the SEC to address issues such as using deceptive tactics such as automatically enrolling their investors into lending programs, or simply lending the stocks out to allow more short selling without reporting the sales as short. There is a tremendous amount of information that is unavailable to the average citizen, BUT THIS IS THE US STOCK MARKET, WE THE CITIZENRY OF THE USA, AND ANY OTHER INDIVIDUAL INVESTOR SHOULD HAVE THE INFORMATION NEEDED TO MAKE A REAL EDUCATED INVESTMENT ON ANY STOCK. I am disgusted by the lackluster amount of action of the SEC. If the Market is truly rigged, we have a right to know, and the SEC is mandated to ensure that they do the work to enforce order and stop the cabal of institutions likely working together to destroy publicly traded companies in the US Markets. If the market is not rigged, if all is well and the vast majority of individuals who believe it to be rigged are incorrect than there should be no reason NOT to force the reporting of short positions, and short activity. There is a growing belief that many institutions are simply using the market as a way to fleece the American public, I am not convinced by the efforts of the SEC thus far, and there is a growing movement to boycott the US markets as a whole. I wholeheartedly believe that the SEC is NOT well intentioned, after the MEME stock video which you spent a WHOPPING $366,204.78 despite the collection of evidence showing that these 'meme stocks' are indeed being targeted by short activity. There is a growing concern amongst the population that without this information there is too much risk involved in investing. If the SEC cannot or will not rectify this issue, there will be a mass exodus of individual investors in the US Markets. I speak for only myself, but I'm also positive that you have been bombarded by many others who are also concerned. Will the SEC refuse to take our concerns seriously yet again? I implore the SEC to rethink their allegiances and to recall what they are charged with to enforce. the link below is the FIOA request which proves that the SEC Spent almost $400,000 for a video to mock their constituencies. Thank you for your time, but nothing else, until you address these issues. https://twitter.com/etanleibovitz18/status/1572323979536510976?s=20&t=-p5NGj21ZJRRjMXl-G-40Q