I've been hearing a rumor that Dateline NBC's long awaited "Stockgate" expose will be airing tonight at 7:00 Eastern Time. I wouldn't mind hearing differing opinions on this topic by members of this board. I have to admit I don't know too much about it but would like to learn as I do hold a couple positions in OTC stocks.
I can't believe I wasted my time (from playing poker) to watch that. Never really watched dateline before, but give me a break, watching paint dry is more interesting.
yeah it was terrible, it didn't even go into naked shorting, it explained the allegation basically as guilty. total shit. what site do you play poker on?
I don't believe it's possible to manipulate the stock price all the way to 0 through shorting it. If the company is good the buyers should step in and the institutions should be one of them. If the could manipulate the price down they could certainly manipulate the price back up once again.
Actually, If you look at PIPE (toxic convert) trades you will see that you absolutely can manipulate prices down. A classic example of this during the dot com era was ANCR. There are many others and people -- a few -- have been going to jail for them lately.
They prices can be manipulated down no doubt about that but if the company is really good & profits are growing every quarter the low price won't stay forever & the stock will find the buyers really soon. After all the short sellers should buy at some point & because this is small company it should drive the price up by itself. My point is that artficially depressed price of a good company is not a stable situation & one good buyer after one good quarter will lift the price up back to the sky with so many short sellers out.