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Well, I did hit the confirm button, but it was a limit order than never filled: Message 12288533
As for today's action, this is the reason: How Stockholders Can Help Combat Short Selling. To carry out short sales, traders need to borrow stock from brokers that is registered in ``street name'' or held in a margin account. However, if enough stock is taken out of street name or margin accounts, short sellers will have difficulty maintaining the current volume of short sales. Therefore, we are asking all of our shareholders to do the following:
Promptly call your brokers and have your MicroStrategy stock taken out of street name or put into a cash account. This only means that instead of your shares being registered in your broker's name or being held in a margin account, they would be registered in your name or placed in a cash account. You would still own the stock, and your ability to hold or sell the stock would not change.
Usually the effect of this is only short term because, while it creates a temporary demand for the stock as shorts are forced to cover, it does nothing to help the fundamentals. The price of the stock reflects the fundamentals, not the other way around.
MicroStrategy Inc. (MSTR) | Stock Discussion ForumsShare