rare that these are shortable after they move big , on the ib platform wondering if IB is intentionally limiting short availability to control blowup risk of accounts. they may not want too many accounts with margin issues if the junk keeps ramping legit question. CHNR a good example. only a 4% borrow rate, but no shares
They have to be borrowed from someone, but the usual volume is... 2000 shares per day... So it may be difficult to find people who own this stock, especially at IB. The float may be larger, but could be owned by stakeholders not trading at IB.
There are no shares or shares are like $1000 yuan per 100 locates since those clowns already taken them so they can short it themselves and drive the price lower to pump it again in the future. Take CTIB for example, was showing $200ish per 100 locate you know that ticker is trash. But srsly, the SEC should investigate chinese accounts who are suddenly seeing 7 figures.
What's the borrowing costs to short these stocks? With many of the Online Brokers there were no shares available on GNUS, IMRN and many of the biotechs.
I didn't see any for GNUS or IMRN. I found some for KBSF shorted it for a scalp, I didn't hold since I was distracted by CHNR and CTIB. Those two tickers got me good.
guru, in 2000-2005 I remember playing some Sub $10 stocks including SIRI where you had to time everything correctly or you got slammed by all the shares flooding the Market. A software company I was holding holding over a 100,000 shares(cash-value of the stock without including their software business was $1.75) at $.30 Every time the stock went up it was slammed by Naked Shorts back down to $.40-$.50 range staying their for months. I believed in their business and software. This stock had value, not like the trash going up every day like GNUS. One day while hiking I checked my stocks using the phone system and this stock finally broke past $1. I hauled ass home, by the time I turned on the computer it was $3 a share. It took Tokyo Joe and three other well known day trading firms to say "Its a screaming buy" the stock hit $8. Not the first time Tokyo Joe helped me out. Today its WSB or Barstool bets moving garbage stocks.
Me either, did you try to short NETE or play it? I love Shorting its just hard to change mindsets after eleven years of this Bull Market. Timing has to be so dam sharp on these Penny-Trash. I got clipped $800 on IMRN today, gave back a tiny bit of gains. Edited: I was a video game champ in the 1980s, if only I had my current mind with a young body of a teenager there would be no problem sending out fast orders even with algos
I wrote about it on my Piker's Journal how "not paying up at $3 costed me $2s because I stopped watching it to play Apple Calls and Puts". I bought JD and tried to chase LK, JD is solid.
CTIB and CHNR all great shorts without shares, I wonder which Clearing House had plenty when CTIB was $10 in Pre-Market? Maybe one of the pros if their reading this thread can answer who has priority access because its not the little guys.