$SRNE Straight from sec.gov/ about naked short sells II. “Naked” Short Sales In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard three-day settlement period.[3] As a result, the seller fails to deliver securities to the buyer when delivery is due (known as a “failure to deliver” or “fail”). Everyone recall the big Monday drop from $10 to $5. Today is the day to deliver those shorted shares based on the standard three-day settlement period
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