Naked short sellers do not own the stock at all, and they do not have to buy it back either, they just pocket the difference in the two sell prices, which are credited to their accounts. All naked short sellers do is promise delivery if required (which in most cases is uneccessary anyway.
Until today on the ASX, your shares could be used without your approval or knowledge by naked short sellers - you would not know anything about it, except the share price would keep falling as they keep on selling.
OEX Price at posting:
68.0¢ Sentiment: Hold Disclosure: Held
