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Posted: 12/20/2009 8:59:50 AM EDT
I invested into some stock and the forum members want everyone to call up their broker to place a loan exempt restriction on our accounts to stop said broker from lending our your shares to sell.

Now does this involve me? I have a basic account, and from what I have seen they only do it if you have an outstanding balance, but I just wanted to make sure before I did anything.
Link Posted: 12/20/2009 11:07:09 AM EDT
If you have the certificate sent to you or registered in your name the stock can not be lent out to be shorted. I believe this is what they are trying to accomplish.
Link Posted: 12/20/2009 10:25:29 PM EDT
[Last Edit: 12/21/2009 10:44:37 AM EDT by aplehr]
Originally Posted By reelserious:
If you have the certificate sent to you or registered in your name the stock can not be lent out to be shorted. I believe this is what they are trying to accomplish.


that is the basic theory, or by setting a high sell price the shares can't be lent out either.  this is one of those things you will read about on a forum that is complete bs.  you must always remember that  99% of the people on financial forums are completely full of shit.  if someone tells you they own 10,000 shares, divide it by ten.  if someone tells you they got in at a certain price, double it.  if everyone put restrictions on their shares, it might work - in theory.  but in reality, the numbers needed to actually make a difference will never be there - because most shareholders don't hang out on forums.  i take everything i read on a finance forum with a grain of salt.  the amount of bullshit  and misinformation is absolutely incredible.  they can be entertaining though.
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