“They’re predators. They’re doing something illegal, and we want it to stop”, says GNS CEO Roger Hamilton.
The Board of Directors (the “Board”) of Genius Group Limited (NYSE American: GNS), a leading entrepreneur edtech and education group, approved at a meeting of the Board held on Wednesday 18th January 2023, an action plan to address illegal short selling of its stock.
This action plan 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 Genius Group.
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.
Retail investors on social media are supporting Genius Group’s CEO Roger Hamilton in his efforts to expose and bring down manipulative short selling.
The retail community has voiced their concerns with dark pool trading, OTC trading, and naked short selling in prominent companies such as AMC Entertainment, GameStop, Mullen Automotive, Biora Therapeutics, Meta Materials, and many more.
“It’s like being robbed in a library, but you can’t shout ‘Thief!’ because there are ‘Silence, please’ signs everywhere.” – Roger Hamilton, CEO of Genius Group Limited.
Speaking Out on Naked Short Selling
Overstock CEO Patrick Byrne spoke out against naked short selling in 2007 but was ridiculed and eventually investigated himself by the Securities and Exchange Commission (SEC).
Elon Musk has commented on not just the SEC but has said at one point Tesla was the most shorted company in the market.
In a CNBC exclusive, Elon Musk says hedge funds have used short selling and complex derivatives to take advantage of retail investors.
Something retail investors who purchased so called ‘meme stocks’ in 2021 found out very easily.
“Hedge funds tank stocks using ‘short and distort’“, says the Tesla CEO.
A tactic where hedge funds impose their influence on corporate media such as The Fool, Wall Street Journal, and MarketWatch to scare people out of their money, then short the stock to capitalize on selloffs.
Is Roger Hamilton the new voice for retail?
The retail community certainly seems to think so.
Unlike Patrick Byrne, who unfortunately didn’t have the massive support he deserved, Roger Hamilton has many large retail communities made up of millions of people supporting the cause.
Social media has allowed retail investors to voice their opinions and concerns regarding the manipulation of their favorite companies.
Citizen journalism platforms, such as FrankNez and Rebel News have helped spread awareness surrounding people’s concerns.
Should New Regulators Be Put in Place?
Retail investors are convinced FINRA, the DTCC, and the SEC are complicit in the market manipulation that occurs in these companies.
Citadel’s Global Head of Operations, David Inggs, has a board seat at the DTCC.
On January 28th, 2021, The DTCC waived $9.7 billion of collateral deposit, limiting institutional losses and limiting retail profits during the ‘meme stock’ frenzy.
The organization allowed several naked shares to flood the market prior to the massive jump in share prices only to help financial institutions in the end.
On the other end, out of the four commissioners in the SEC who voted, Hester Peirce was the only one who voted no on market transparency.
Hester Peirce is tied to a lobbyist group of anti-regulators.
The Intercept wrote a piece on Hester Peirce in 2015 titled, “SEC Nominee To Oversee Wall Street Works At Think Tank Dedicated To Blocking Regulation.”
And according to the research, Hester Peirce received 98% of her salary from the Mercatus Center, a “think tank” that provides an academic façade to a radical anti-regulatory agenda.
What does the GNS CEO have to say about our regulators?
The company is fighting back “because we want this to stop,” Hamilton told MarketWatch. “They’re taking value away from our shareholders. They’re predators. They’re doing something illegal, and we want it to stop, whether that means getting regulators to enforce existing regulations or put new ones in place.”
Should more companies fight naked short selling like GNS CEO Roger Hamilton?
GNS CEO Roger Hamilton is bringing the fight to Wall Street and regulators.
The retail community has his back, the question is, will other CEOs step in?
Many shareholders in the AMC community have urged the company’s CEO Adam Aron to speak out against the illicit activities occurring in the company stock.
The CEO has mocked short sellers but hasn’t taken an activist stance, yet.
Should more companies fight naked short selling?
I’d love to hear your thoughts on this.
Leave a comment down below.
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A lot of these companies get shorted into pennies. Most of them have to do reverse stock splits to stay over the dollar range compliance on the exchange, and then retail investors lose many many shares because of this, a lot of times these companies are doing not bad financially and should be over a dollar, so in the end retail people losing many shares a lot of times, also when these companies reverse split and go up, they get taken back down by shorts again, and they have to reverse split again, ultimately investors usually cash out and lose everything,
It’s so not fair
Stop lumping in GME with these other scam stocks, none of them ever had any indication they were being naked shorted like GME (which had over 100% short interest at one point – why people said it could have been naked shorted)…
All talk but never any action ever taken. I do not trust anyone in the Market anymore.
EVERY share of stock purchased should be REGISTERED and have a unique serial number. There should be NO naked shorting allowed whatsoever, it is too easy for big dogs to create shares out of thin air. This needs to be reformed immediately and there should be share recalls on any questionable stocks with huge counts of Failure To Delivers and super high costs to borrow. Shorting is one thing that is bad but Naked Short Selling is high crime and should be shut down and punished accordingly, not with slap your wrist fines. This entire government and stock market is infected with greed and we need a revolution of sorts to change all the crime happening and draining honest people of their hard-earned cash. The stock market should be an investment center not a CASINO.
Let’s start a discussion! Leave your thoughts below.