$GNS, $MMTLP, and others are taking regulators and market manipulation head on in a string of lawsuits.
CEO of Genius Group Roger Hamilton is leading a first-ever team of CEOs to fight against naked shorting.
Naked short selling is the illegal practice of selling shares that have not been determined to exist.
The manipulative practice first began to flood social media during the ‘meme stock’ frenzy of 2021 when GameStop, AMC, and others had been heavily shorted.
After stocks reached all-time highs, retail investors did not leave.
It seemed that no matter how much buying pressure occurred, stocks were being suppressed through a number of loopholes, such as dark pools / off exchanges and then short laddered.
Millions of FTDs have surfaced amongst ‘meme stocks’ in recent years.
FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.
These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.
In the case of sellers, it means not having the goods to meet that transaction.
Failure-to-deliver can occur in options trading or when selling short naked, per Investopedia.
What is Happening in the Naked Shorts War?
$GNS CEO Roger Hamilton is leading a movement created by retail investors to fight naked short selling.
The CEO said on Twitter that other CEOs $NWBO, $GTII, $MICT, $COSM, $CRTD, $MMTLP, $TRCH, are taking legal action with Wes Christian, a lawyer who has been investigating stock manipulation since 2000.
Earlier this month, Global Tech Industries Group (OTCMKTS:GTII) took legal action against naked shorts.
The Nevada corporation announced on Monday that its board of directors has authorized management to move forward with appropriate legal action in connection with what it believes to be illegal trading activity in the Company’s shares.
Roger Hamilton also reached out to AMC CEO Adam Aron earlier this month.
Retail investors have urged the movie theatre chain CEO to speak out against manipulative short selling; this has been his response:
“It may boil down to this. Many of you are frustrated, strongly urging us to address market forces that you are convinced are unfair. We continuously think about what actions would be wise and CREDIBLE. Certainly good ideas: Build up our cash reserves and smartly lead AMC forward,” said Adam Aron on Twitter.
While AMC’s CEO aims at taking a more fundamental approach, others are taking an activist approach.
Live Interview w Roger Hamilton 2/21
Join us for a live interview with $GNS CEO Roger Hamilton on 2/21 via Twitter spaces.
The space call will touch topic on ideas and strategies to fight naked short selling and we will have a chance to ask Roger Hamilton questions you might be curious about.
Genius Group’s plan of action includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of $GNS.
This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group.
The Company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them.
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What are your thoughts on what’s happening with the naked shorts war? Which CEOs would you like to see join the fight against manipulative short selling practices?
You stated that “Roger Hamilton is leading a movement (created by retail investors) to fight naked short selling.”
…RJH isn’t just leading the movement he created it.