Naked Short Selling is described with its effect on the stock market collapse and economic downturn.
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Naked short selling is now prohibited
I am going to explain why it was so lucrative
(Note – legitimate short selling serves a good function)
If the short sells the 30 million shares at an average price of $5 and drives the stock to one cent, he has a profit of almost $150 million!
But the market value of the entire company to begin with was only $100 million!