Stock du Jour -- SERA

HTB Short Sellers Muss Immer Umkehren, Understanding PR pumps, Popular Tickers Tracker, Cooking Wine Reco, and a Triumph

Feb 15, 2023

∙ Paid

SERA 0.00%↑ did 133,000 trades and 127 MM in dollar volume … I shorted it in the morning and stupidly added to it, and they ground it all day long just under VWAP, then just before 15:30 they pushed it through the highs (squeeee, little piggy) to clear out all the idiot short sellers (like me!) who had been adding all day waiting for it to break … planned loss but it still sucks to get gamed so easily. I “knew” it was coming.

Borrow cost for SERA was .002 or $400 for 200,000 shares…. pretty cheap when compared with losing 60 grand. :-)

Look for SERA video replay in the next issue, subscribers.

Interesting Links:

SEC Finalizes Rules to Reduce Risks in Clearance and Settlement

As discussed in the T+1 Proposing Release, shortening the standard settlement cycle to T+1 would reduce the time frames to effect the closeout of most types of fail-to-deliver positions under Rule 204. The applicable closeout date for a fail-to-deliver position can differ depending on its Rule 204 categorization, including whether it results from a short sale, a long sale, or bona fide market making activity. If a fail-to-deliver position results from bona fide market making activity, the participant must close out the fail-to-deliver position by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date. Under the current T+2 standard settlement cycle, the closeout for long sales or bona fide market making activity is required by the beginning of regular trading hours on T+5. If the Commission adopts a T+1 standard settlement cycle, this closeout requirement would be shortened from T+5 to T+4.

All about Rule 204 categorization…