Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7062075110739881984
• How Social Media Financial Market Distortions Shape National Economic Realities. Bank #Short-#Seller “#Coordinated #Short #Attacks” Use #SocialMedia for #Market #Distortion about #Banks #Perceived #Health:
• When ($30Billion + $6.382Billion), Mar 16 ’23 = ($650Million), Apr 28 ’23: #FirstRepublicBank (#FRC): Where Did ~$36Billion Vanish: Into Thin Air? https://lnkd.in/gN54HGd3
• Short Sellers May Be “Manipulating” Bank Stocks. Could This Practice Be Banned? https://lnkd.in/g-CpznF4 : Concerned about the #crisis in #regional #banks, bankers are seeking #regulatory #action for possible #trade #manipulation by short sellers. Short sellers who have bet against certain regional banking stocks in recent weeks have reaped large profits as the sector collapses. Bankers are concerned about the consequences that shorting activities banks may be having for the banks. Regulators on the federal level are scrutinizing short activity in banking stocks that have collapsed in recent weeks. The American Bankers Association (#ABA) wrote in a letter that it is concerned that short-selling activity is #manipulating the #market because some #bank #stocks have faced #trading #activity that defies #fundamentals.:
• U.S. #bankers urge #SEC to probe #shortsales, reduce ‘#abusive’ #trading https://lnkd.in/gMJUmrNz : #ABA urged #federal #regulators to investigate a spate of significant short sales of publicly traded banking equities that it said were “disconnected from the underlying financial realities.” In a letter to U.S. Securities and Exchange Commission Chair #GaryGensler, the lobby group said it had also observed “extensive #socialmedia engagement” about the #health of various #banks that was out of step with general industry conditions: “We urge the SEC to consider all its existing tools and to take measures to reduce the avenues for abusive trading practices and #restore #investor #confidence. These measures include, at a minimum, a clear message and appropriate #enforcement #actions against #market #manipulation and other #abusive #shortselling practices. The harm caused by short selling that runs counter to #economic #fundamentals ultimately falls on #small #investors, who see value destroyed by #predatory #behavior.” Given the potential for damage to investors and “#perceived #health of #banks” targeted by short sellers, #SEC should reinforce and publicly highlight its efforts to address abusive #market-#distorting #short #campaigns.
• Should the #SEC #halt #short #selling of #regional #bank #stocks?https://lnkd.in/gPQphS-u
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