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  • CrayonMuncher

    Member
    July 10, 2021 at 4:50 pm

    It will be interesting to see Monday how it plays out and whether or not it comes back on because it clearly did not meet the requirements to come off. To get on it:

    • five consecutive settlement days at a registered clearing agency; and
    • “fail to deliver” stock totals 10,000 shares or more; and
    • the failed shares equal to at least 0.5% of the issuer’s total shares outstanding.

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    To get off the list:

    “A security ceases to be a Threshold Security and comes off the list when it does not meet the relevant threshold requirements for five consecutive settlement days. A broker-dealer with fail-to-deliver positions for 13 consecutive settlement days must immediately close out the fail to deliver position by purchasing shares in the open market.”

    I would suggest just sitting tight for now and just see how it plays out next week before we all start jumping to conclusions and creating theories. But yes, I agree these rules do need to have some teeth.

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