A question for my education and which may better help me understand what is going on.
If someone, e.g. Gina ,buys a parcel of shares and then lends them out to shorters - who sell them - then does Gina have to add this parcel to the total number of shares that she owns.
If, as I suspect, the answer is no, then it seems possible that she could control more than 5%, or possibly even more than 20% of the share capital without having to declare anything and without anyone knowing.
Short squeeze party thread, page-183
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