Comments on: Thousands of victims of Naked Short Selling, but I’m not naming names! http://www.sequenceinc.com/fraudfiles/2008/06/16/thousands-of-victims-of-naked-short-selling-but-im-not-naming-names/ Thu, 11 Mar 2010 20:51:49 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: somtnman http://www.sequenceinc.com/fraudfiles/2008/06/16/thousands-of-victims-of-naked-short-selling-but-im-not-naming-names/comment-page-1/#comment-161354 somtnman Tue, 17 Jun 2008 15:14:42 +0000 http://www.sequence-inc.com/fraudfiles/?p=1586#comment-161354 Bloomberg took a crack at it, both in the magazine and on TV. I think their lead example in the magazine version was Movie Gallery. I've heard about the TV special they did, but since I haven't watched it I don't know which companies it emphasized. Skeptics could suggest, ever so gently, that MOVI's problem was really with Netflix and how NFLX took away both customers and the pricing power for MOVI and BBI to impose late fees on renters who brought back movies slower than promised. The irony is that Netflix itself is often naked-shorted, or at least appears on the so-called Regulation SHO list, and yet its stock has quadrupled since its IPO as profits rise. Oh yes, profits. And 60 Minutes, of course, suggested Biovail. Bloomberg took a crack at it, both in the magazine and on TV. I think their lead example in the magazine version was Movie Gallery. I’ve heard about the TV special they did, but since I haven’t watched it I don’t know which companies it emphasized.

Skeptics could suggest, ever so gently, that MOVI’s problem was really with Netflix and how NFLX took away both customers and the pricing power for MOVI and BBI to impose late fees on renters who brought back movies slower than promised. The irony is that Netflix itself is often naked-shorted, or at least appears on the so-called Regulation SHO list, and yet its stock has quadrupled since its IPO as profits rise. Oh yes, profits.

And 60 Minutes, of course, suggested Biovail.

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