To add to what Trans is saying as a possibility, I correspond with Schwab from time to time on what they are doing with lenders of IOC shares. A couple of weeks ago they dropped the rate they are paying lenders from 4% to 3% (was 7% early this year). Then last week they actually started returning shares to lenders' account due to lower demand by borrowers.
Question is whether this is due to what has been heard about the SEC requesting and getting wheelbarrows full of documentation, or is it shorts not wanting to incur borrowing costs because they feel they have beaten it down and can wait it out due to their thought that any major announcement is a ways off?
Question is whether this is due to what has been heard about the SEC requesting and getting wheelbarrows full of documentation, or is it shorts not wanting to incur borrowing costs because they feel they have beaten it down and can wait it out due to their thought that any major announcement is a ways off?