Roger James Hamilton AKA Entrepreneur, Educator, Futurist. CEO of $GNS tweeted “the following:”124 million $GNS shares sold short yesterday. Either the clever shorters kept borrowing our 10m share float, buying back higher and repeating every 30 mins… or #NakedShorts. They know we’re watching but they can’t help themselves…”
Genius Group is employing all available tools to address the issue on Naked shorting, including a special dividend, potential buybacks, dual listings, and a reverse stock split. Additionally, it is collaborating with government officials and may file a lawsuit against anyone engaging in naked short selling, which is a crime.
In order to obtain shareholder approval for its proposed activities, the firm is now considering legal action and is preparing an extraordinary general meeting for the upcoming weeks. These include cooperating with regulators to provide information and offering a special payout to drive out unscrupulous actors.
GNS a lot like AMC Stock has many reasons to suggest that naked shorting is going on. Naked shorting is defined on investopedia as “What Is Naked Shorting. Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock or determine that it can be borrowed before they sell it short.”