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Originally posted by dawnstar
I mean how can you have this:
"1,158,209 shares of Global Links Corp. (OTCBB: GLKCE), "constituting 100 percent of the issued and outstanding common stock of the Issuer."
As described in a story that ran on FinancialWire on March 4, Simpson stuck every single share of the company in his sock drawer -- and then watched as 60 million shares traded hands over the next two days. "
unless someone...more than likely not the company....is just creating stock in the virtual wonderland of cyberspace...
if this company gives out a dividend, do you get one too, or are you out of luck there? and what if you decided to sell, ya know, let uncle sam take a big bite out of your investment and close out the account...do they sell the phantom stock to somene else, and you get the money or what....
do they tell you when you are buying this stock that it's just an iou for it, or do they just let you think you have the stock?
The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. However, some professional investors and hedge funds take advantage of loopholes in the rules to sell shares without making any attempt to borrow the stock.
Selling short is the opposite of going long. That is, short sellers make money if the stock goes down in price.