CVR Energy (CVI) Daily Short Sale Trading Volume Through 11-6-09. Over 2.1 Million Shares Shorted in Past 3 Months.
November 9, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance, has reviewed the NYSE, NASDAQ, BX, CHX and NSX Daily Short Volume Report through Friday, November 6, 2009 and come to the following statistical conclusions. The chart below shows aggregated daily short volume in CVR Energy (NYSE: CVI) for August through November 6th, 2009. Over 2.1 million shares have been shorted since August 3, 2009. CVI has dropped from $13.89 to $8.30 since October 12, 2009. CVI management and shareholders should contact tom@buyins.net immediately to discuss solutions to the short selling problem in its shares. For access to real-time, daily and monthly short sale trading statistics along with technologies designed to protect your investments from abusive, manipulative or illegal trading, go to http://www.buyins.net .
Date Short Volume Total Volume Percent
11/6/2009 130,642 2,876,500 4.54%
11/5/2009 25,092 261,100 9.61%
11/4/2009 48,394 319,700 15.14%
11/3/2009 43,229 439,900 9.83%
11/2/2009 37,348 452,000 8.26%
10/30/2009 34,602 231,600 14.94%
10/29/2009 37,266 237,100 15.72%
10/28/2009 36,673 323,400 11.34%
10/27/2009 14,600 175,300 8.33%
10/26/2009 12,397 288,000 4.30%
10/23/2009 24,629 404,200 6.09%
10/22/2009 12,244 135,000 9.07%
10/21/2009 14,984 190,700 7.86%
10/20/2009 58,496 315,100 18.56%
10/19/2009 9,021 144,300 6.25%
10/16/2009 7,081 121,800 5.81%
10/15/2009 6,498 91,100 7.13%
10/14/2009 25,100 161,200 15.57%
10/13/2009 21,450 221,000 9.71%
10/12/2009 26,665 213,800 12.47%
10/9/2009 12,875 104,000 12.38%
10/8/2009 11,800 127,700 9.24%
10/7/2009 17,103 158,900 10.76%
10/6/2009 57,397 427,700 13.42%
10/5/2009 348,164 1,350,200 25.79%
10/2/2009 15,496 224,700 6.90%
10/1/2009 27,245 211,400 12.89%
Total 2,152,738 19,144,324 11.24%
* Daily Short Volume chart has been truncated for viewing purposes. Totals include short volumes starting August 3, 2009 and through yesterdays close.
In late October 2008 the SEC updated Regulation SHO requiring that all short sellers must locate, borrow and deliver any shares they have shorted, no exceptions, by T+3 settlement date. If not, a buy-in must be forced by the broker dealer that the short seller transacted through by the opening of the market on T+4. Since a company first appears on the naked short list when short sellers have been failing to deliver for 5 consecutive trading days, stocks should theoretically never be on the naked short list again. BUYINS.NET will monitor the exchanges naked short lists daily and issue an alert and notify the SEC and FINRA should short sellers fail to deliver on any short sales.
Reg SHO Rule 204 (i) requires brokers to deliver shares on long and short sales of publicly traded equity securities by settlement date, (ii) continues to require brokers to close-out fails to deliver by the beginning of trading on T+4 for short sales and T+6 for long sales, (iii) precludes clearing brokers and their introducing brokers from selling short a security, other than on a pre-borrowed basis, if a fail to deliver in that security is not timely closed out until the fail is closed out and that close-out transaction settles, (iv) allows clearing brokers to allocate fails to introducing brokers and (v) continues to permit brokers to rely upon pre-fail credit to satisfy Rule 204's close-out requirement to avoid the pre-borrow requirements when a fail at a clearing broker has not been closed out. However, the SEC liberalized certain of these provisions in several regards. For example, permanent Rule 204 now allows a broker to close-out a fail on a long sale by borrowing the security, whereas Rule 204T had only permitted closing out long fails by buying-in, which should alleviate some of the buy-in risk for investors that experience long fails. Similar relief was extended to close-outs for market maker fails, so that a fail from a bona fide market making transaction (including short and long fails) can now be closed out by the beginning of trading on T+6 by borrowing the security. Further, Rule 204 now permits a broker to borrow securities to obtain pre-fail credit for early close-outs, whereas temporary Rule 204T only permitted pre-fail credit to be obtained by purchases of securities.
The SEC refused requests to extend the close-out deadline for fails to deliver to the close of business on the close-out deadline, choosing instead to retain the requirement that all fails be closed out by the beginning of trading on the applicable close-out deadline. The Commission also rejected requests for a fail to deliver exception that would have provided an exception from the close-out requirements if a clearing broker's fail position was below a certain amount but said that it would continue to monitor whether a de minimis or odd lot exception could be warranted.
CVR Energy, Inc. (NYSE: CVI), together with its subsidiaries, refines and markets transportation fuels in the United States. The company also produces and markets nitrogen fertilizer products. It operates through two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment owns and operates a coking medium-sour oil refinery in southeast Kansas; a crude oil gathering system serving central Kansas, northern Oklahoma, western Missouri, eastern Colorado, and southwestern Nebraska; and terminal facilities for asphalt and refined fuels in Phillipsburg, Kansas, as well as owns a 145,000 barrels per day proprietary pipeline system that transports crude oil from Caney and Kansas to its refinery. This segmenta�s refinery products comprise gasoline, diesel fuel, coke, propane, butane, slurry, reformer feeds, sulfur, gas oil, and produced fuel. It serves refiners, convenience store companies, and railroads and farm cooperatives. The Nitrogen Fertilizer segment operates a nitrogen fertilizer plant in North America. This segment markets its ammonia products to industrial and agricultural customers; and the urea and ammonium nitrate solution products to agricultural customers. CVR Energy is based in Sugar Land, Texas.
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