May 6, 2011
I believe short selling should be banned or at least highly regulated. Although it seems short sellers always seem to find away around the regulations, so banned completely would be better.
I am a fairly new investor, but I was blown away the other week when I saw shorting taken to excessive limits in a stock, Star Scientific, ticker CIGX. They took the stock down almost $2.00 in one day. In fact, it was so extreme there was a special block put on the stock so that had to quit shorting for 24 hours. (Can't remember what the code was) The also began posting on the message boards very negative messages about the stock.
Thank you for your consideration.
Sincerely,
- Jan Sargent