Can you sell penny stocks short? What stops me from shorting on a run, then buying to cover, both at market?
Thanks a lot for any help.
Posted by BuyTex on :
traders can't short penies, only MMs can.
Besides, you wouldn't want to short during a run; you'd short at the peak or thereafter, hoping to cover before another run...
Posted by R1Man on :
Yep.
BuyTex.....you read all the posts huh.......???
Posted by BuyTex on :
ya--posts, books, filings, company sites...lottsa stuff
Posted by Turkish on :
Ok, thanks for the replies.
Is there a set price below which I cannot sell short?
Posted by Machiavelli on :
ahh we just said you can't sell short Pennies... it's not allowed... if you want to sell short stocks $5 and over you can.. but there is a "uptick" rule for you to be able to do that...
Posted by BuyTex on :
shorting an advanced strategy, AND technique... when you go long? the most you can lose is the pps drops to 0, goes bankrupt, etc... Theoretically, pps can rise forever--for sure, past where you want to cover--so losses can be *much* larger
Posted by Turkish on :
Yeah I saw where you said that, I was wondering why...
I read up on it, and you can't short OTC or pinks. That's what I was wondering, not just "it's impossible".
Thanks for the help though.
Posted by BuyTex on :
Although I believe it's allowed offshore and in Canada...
Posted by Machiavelli on :
we need to get accounts offshore and/or in Canada lol ...
Posted by renrob05 on :
you can't short in Canada....that's BS. I looked into it.
Posted by BuyTex on :
no? Prolly 'Net myth... find out anything about offshore shorting of pennies?
Posted by renrob05 on :
not sure about offshore. I live in Canada and i would be a millionaire if i shorted pennies.