NKLA stock shorting

  • Thread starter Thread starter bwilson4web
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bwilson4web

bwilson4web

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Hi,

I recently tried to SHORT the NKLA stock and discovered:
  • Excessive borrowing interest, +260%
  • Stock owners can earn the interest as income for 'loaning' their stock
  • Most of NKLA stock is held by insiders
This makes NKLA toxic as it may be part of stock scam to fleece SHORT investors. I'm not a fan of SHORT sellers but in this case, it looks 'suspicious.' No, I'm not contacting the SEC but if my worst fears are realized . . .

Bob Wilson
 
I have never shorted before, so I never knew any of the specifics. I had no idea that it was even possible to charge that kind of interest rate.

Aren't these insiders prohibited from selling for some period of time?
 
It was my first attempt to SHORT but Vanguard would not let me place the order. Eventually I found out why, the excessive interest rate on borrowed stock. So I put the money from $1,020/share TSLA back in at $990 ... $30/share profit. Looks like TSLA has gone up a little more today, ~$1,114.21.

Bob Wilson
 
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