I have entered into the fray just to make a comment. OCCAM has my complete support on this issue (and many others, I might add).
The use of another persons stock, without their specific knowledge is, unethical. I understand that the institution has bought the stock for its potential gain ("good" investment) and find it absolutely unethical that the institution can lend out a stock for the purpose of "shorting", which devalues the invested stock on the market. Yes, I understand that those who borrow are committed to selling back at the same price as the loan price. But the outcome is that the stock has been devalued artificially by a third party. This, in Buru's case, has been a relentless forcing down of the price for the shorters gain. How, on any ethical business level, can this be supported? That is the point. The end point is that the stock has been manipulated DOWN. That this practice is allowed does not make it excusable. It is on every level an unexcusable and unethical practice. Does the ASX condone this? Obviously they do. They become complicit in the process. I will close on the point that institutional investment should ONLY be bought for the potential gain in any stock. To do otherwise, ie, lend it out for other purposes can be very damaging to any stock. Those who have their investments managed by institutions would surely not condone this practice which undermines the value of their investment. And, it has not enhanced the the reputation of the institution facilitating such practices.
I cannot agree more with Occam. How, on any ethical business level can this "shorting" be condoned?
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Mkt cap ! $34.84M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 239448 | 4.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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4.8¢ | 409464 | 2 |
View Market Depth
No. | Vol. | Price($) |
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2 | 239448 | 0.045 |
3 | 545476 | 0.044 |
4 | 316870 | 0.043 |
3 | 115259 | 0.042 |
3 | 128000 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.048 | 409464 | 2 |
0.049 | 193006 | 4 |
0.050 | 25500 | 1 |
0.052 | 175950 | 1 |
0.054 | 60000 | 1 |
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