So am I, however that theory completely defeats the theory behind the MOASS. If brokers can just “cancel” out non-registered naked-short shares, then there would be no MOASS, as there wouldn’t ever be a search for the lowest ask price, which would be astronomical due to everyone being aware of the rewards and Diamond hands.
Aside from DRSed shares, who’s to know who is holding the REAL shares? Would it be fair to liquidate just anyone’s portfolio for the sake of closing naked positions real or fake? You can’t just “delete” real shares. Would institution holders do something about it? BlackRock and vanguard are the biggest GME holders aside from APES and Ryan Cohen himself. Would they let Citadel blow up their board without taking any profits?
So am I, however that theory completely defeats the theory behind the MOASS. If brokers can just “cancel” out non-registered naked-short shares, then there would be no MOASS, as there wouldn’t ever be a search for the lowest ask price, which would be astronomical due to everyone being aware of the rewards and Diamond hands.
Aside from DRSed shares, who’s to know who is holding the REAL shares? Would it be fair to liquidate just anyone’s portfolio for the sake of closing naked positions real or fake? You can’t just “delete” real shares. Would institution holders do something about it? BlackRock and vanguard are the biggest GME holders aside from APES and Ryan Cohen himself. Would they let Citadel blow up their board without taking any profits?