Naked Short Selling has cost Canadian junior mining companies $40 Billion - and that number balloons to over $500 Billion when you include all Canadian small cap companies - according to Terry Lynch.
The podcast discussion about illegal short selling in the Canadian small cap market, specifically in the mining sector.Here are the key points:
- The Problem: Hedge funds are allegedly using a practice called "short exempt" to essentially naked short sell stocks in small Canadian mining companies. This means they can bet on the stock price going down without ever having to borrow the shares first.
- The Impact: This practice is said to be driving down the stock prices of these companies, making it difficult for them to raise capital and grow.
- The Evidence: The interviewee, Terry Lynch, claims to have uncovered evidence of this practice and is calling for a stop to it.
- The Solution: A two-pronged approach is proposed:
- Legal Action: A class-action lawsuit will be filed if 10 companies can come forward with evidence of manipulation in their stock price.
- Political Pressure: A grassroots campaign will be launched to pressure politicians to take action and change the regulations.
Here are some additional details:
- Short-exempt status allows hedge funds to trade without having to borrow shares first, but it's supposed to be used for small-volume trading, not for large-scale manipulation.
- The interviewee believes this practice is illegal and compares it to murder.
- The Canadian regulatory bodies (SIIROC and OSC) are allegedly not doing enough to stop this practice.
- The interviewee says there is potential for a massive recovery in the mining sector once this practice is stopped.
- Forums
- ASX - By Stock
- AW1 General Chat
Naked Short Selling has cost Canadian junior mining companies...
-
- There are more pages in this discussion • 1,280 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AW1 (ASX) to my watchlist
|
|||||
Last
12.5¢ |
Change
-0.005(3.85%) |
Mkt cap ! $64.71M |
Open | High | Low | Value | Volume |
13.0¢ | 13.0¢ | 12.5¢ | $149.6K | 1.160M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 651787 | 12.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.0¢ | 501439 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 496787 | 0.125 |
2 | 1099999 | 0.120 |
4 | 820000 | 0.115 |
7 | 670908 | 0.110 |
5 | 457500 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.130 | 501439 | 4 |
0.135 | 514968 | 7 |
0.140 | 1165780 | 8 |
0.145 | 312432 | 8 |
0.150 | 544952 | 7 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
Featured News
AW1 (ASX) Chart |