(IQST) said today that its Independent Board of Directors (BOD) has authorized management to identify particular naked shorting targets and to fight against them.
In order to achieve this objective, management has begun discussions with a business that specializes in naked short selling. This company has a reputation for identifying and resolving concerns related to naked shorting.
Short selling has exceeded 50% of iQSTEL’s daily trading volume many times in the past month
As a crowd-sourced short squeeze drove up the share price of GameStop, the significance of short selling became a very visible subject. In the HBO documentary Gaming Wall Street, the GameStop short selling topic was discussed.
Why Short Selling Has Lately Been a Hot Subject is the headline of a recent MarketWatch article that provides a detailed explanation of short selling and includes information on the OTC marketplaces.
Leandro Iglesias, CEO of iQSTEL, stated, “We have received letters from our shareholders expressing concern that naked short selling is negatively impacting the IQST share price.”
“In response to these concerns, the Independent Board of Directors of iQSTEL has authorized management to take appropriate action. The administration has begun discussions with a reputable business in regards to naked short selling. Subject to finishing an agreement, this business will conduct a comprehensive investigation of naked shorting in IQST to identify individual rogue actors.
If we detect illegal behavior, we will prosecute it to the greatest extent of the law in order to defend our organization. In our efforts to combat short selling, we are not breaking new ground. We will employ approaches that have been proved effective against short sellers.”