Short interest need to not be self reported. There should be investigations every day or at least weekly to see how these hedge funds and market makers are influencing stock prices. Naked shorting is a disgusting practice that has caused economic crashes in the past. We need to learn from our past mistakes. The formula for calculating short interest needs to be fixed to show the actual number of short contracts as well. The penalties for breaking these rules need to be more severe, a simple 100k or even 1mil dollar fine isnt enough considering these companies are making billions by breaking them.
Joe Comment On Regulatory Notice 21-19
Short interest need to not be self reported. There should be investigations every day or at least weekly to see how these hedge funds and market makers are influencing stock prices. Naked shorting is a disgusting practice that has caused economic crashes in the past. We need to learn from our past mistakes. The formula for calculating short interest needs to be fixed to show the actual number of short contracts as well. The penalties for breaking these rules need to be more severe, a simple 100k or even 1mil dollar fine isnt enough considering these companies are making billions by breaking them.