SMX ISSUES SHAREHOLDER ADVISORY TO PROVIDE GUIDANCE AND BEST PRACTICES TO PREVENT STOCK LOANS TO SHORT SELLERS
SMX management believes that all holders of its ordinary shares should hold their SMX shares in a TYPE 1 CASH ACCOUNT.
- SMX management believes that all holders of its ordinary shares should hold their SMX shares in a TYPE 1 CASH ACCOUNT.
- This creates an opening for short sellers to borrow SMX shares to short the Company, which could be resulting in downward pressure on SMX shares.
- Even though an SMX shareholder may not own SMX shares on margin, the brokerage firm can legally lend any position in a shareholder's Type 2 Margin Account.
- With the help of its valued shareholders, SMX is striving to be best positioned to deliver long-term shareholder value.