Genius Group (NYSEAMERICAN:GNS) CEO Roger Hamilton reached out to AMC Entertainment (NYSE:AMC) CEO Adam Aron on Twitter to join forces and fight naked shorting together.
Just last week, 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’s GNS was the first to publicly take action against manipulative short selling in the market.
The company’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 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.
Now the CEO is urging AMC CEO Adam Aron to join the fight as retail investors show their strong support towards fighting for fairer markets.
Adam Aron Responds to Roger Hamilton
“I messaged Adam Aron and got both 👍&👎”, said Roger Hamilton on Twitter.
A poll shows that 75% of market participants say a CEO reaching out to another CEO in regard to naked shorting should ‘stand up’, oppose to stand down.
Many retail investors are in favor of companies and CEOs raising awareness of manipulation short selling in the market.
Adam Aron has said in the past that he’s seen no evidence of so-called synthetic shares.
The CEO has remained skeptical despite millions of shareholders raising awareness of Wall Street’s deceptive practices over the years.
Adam Aron is focused primarily on the fundamentals of his company rather than taking on the role of an activist in the community.
But Adam Aron is also tied down to an extent, limited by what he’s allowed to say and isn’t.
AMC’s CEO is binded by covenants that could result in serious legal damage to the company if breached.
The unfortunate reality is that the banks that are providing AMC Entertainment with its lifeline are also shorting the company.
“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.
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There’s no question Wall Street has used predatorial practices against retail investors for decades now.
Chairman Gensler has said it’s not a leveled playfield for retail.
Naked shorting has been an incredibly big topic in the world of ‘meme stocks’ as the demand for shares has been suppressed by financial institutions through various loopholes.
What are your thoughts on GNS CEO Roger Hamilton reaching out to Adam Aron?
Do you think AMC’s CEO is in a tight bind or do you think he’s not paying enough attention to what’s happening in the world of retail investors?
Leave your thoughts below.
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