Tesla, Delta and Target Rise Premarket; Fastly Falls
Peter Nurse, 08 June 2021
Investing.com — Stocks in focus in premarket trade on Tuesday, June 8th. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock rose 2.9% on strong sales in China, a major market for the electric vehicle maker, shrugging off the news that long-time executive Jerome Guillen, who headed up the commercial truck sector of the company, has left the company.
Clover Health (NASDAQ:CLOV) stock rose 35% as small-time retail investors again piled into some of the most heavily shorted U.S. stocks. The U.S. Securities and Exchange Commission has said it was looking into signs of market manipulation following the social-media driven rally of a number of so-called meme stocks. Continue reading “Article: Tesla, Delta and Target Rise Premarket; Fastly Falls”
Bloomberg TV Examines ‘Phantom Shares’ in Special Report Tonight
Bloomberg , 13 March 2007
NEW YORK, March 13 /PRNewswire/ — Tonight BLOOMBERG TELEVISION(R) examines a little-known stock trading practice that can be affecting your portfolio and your company. The special report, titled “Phantom Shares,” explores the problem of “naked shorting” in the stock market. The half-hour BLOOMBERG TELEVISION program is scheduled to air on Tuesday, March 13, 2007 at 7:00, 9:00 and 10:00 p.m. ET.
Every day, millions of shares of stock are sold but can’t be delivered because of an obscure trading practice called “naked short selling.” In a normal short sale, an investor borrows shares and sells them, making a profit if the price falls by replacing the borrowed shares with cheaper ones. In a naked short sale, an investor doesn’t borrow the shares, but sells them anyway. In extreme cases, the investor sells “Phantom Shares,” shares that don’t exist. The BLOOMBERG TELEVISION report, anchored by Mike Schneider, explains this practice, how it’s executed and what the Securities and Exchange Commission is doing in an effort to control it. Continue reading “Article: Bloomberg TV Examines ‘Phantom Shares’ in Special Report Tonight”