Apr. 20, 2022
Hello, I am writing as a retail investor to express concern over this rule and its implications. As I understand it, this allows an essential like-exchange agnostic to the success of a company wherein $100 (or $100MM) of an abusively shorted stock can be exchanged for $100 (or $100MM) of any other stock, thereby eliminating the risk of short selling. When any person or entity short sells a stock, they knowingly take on that risk and should have no other way out of that position other than to purchase that stock back. If you allow "rules for me, not for thee" as what's suggested here, you blatantly hand all abilities to legally manipulate the market (at will) to those who have repeatedly abused any and all advantages they are given over retail and institutional investors alike. This rule stands to benefit those essentially gambling with pensions and retirement funds. If they are able to make a large bet using leverage created from other people's money, they need to be held accountable for their choices. Retail investors should not be harmed for their poor decisions. Sincerely, Kevin Hagemann