NIA's President has a lot of knowledge about naked short selling that he learned years ago from former Overstock CEO Patrick Byrne who won a $20 million settlement from Merrill Lynch after their legal discovery showed that Merrill purposely allowed FTDs (failure to delivers) to occur to collect huge fees on hard to borrow shares with negative rebates.
Power Nickel Inc. (TSXV: PNPN) CEO Terry Lynch recently filed a complaint with regulatory agencies. With the help of Eric Sprott, he was able to get hard data that proved their stock was being manipulated through naked short selling.
According to PNPN CEO Terry Lynch, "They said shorting is not an issue. I said guys I've got different math than you. I don't believe you. I don't believe you're collecting data properly. Their bad data still showed shorting was a problem. The real data, which we're getting now because that is one of the great breakthroughs we found is that there is a way to get real data for individual companies. We've done that at Power Nickel, and we've filed a complaint with CIRO and FINRA on these numbers."
The PNPN short squeeze has only just begun.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from PNPN of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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