Andersons (ANDE) Daily Short Sale Trading Volume Through 11-13-09. Over 5 Million Shares Shorted in Past 3 Months.
November 16, 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 13, 2009 and come to the following statistical conclusions. The chart below shows aggregated daily short volume in The Andersons (NASDAQ: ANDE) for August through November 13th, 2009. Over 5 million shares have been shorted since August 3, 2009. ANDE has dropped from $37.56 to $24.03 since October 21, 2009. There has been a $247 million drop in market cap in the past 3 weeks ($13.53 decline on 18.3 million shares outstanding). ANDE 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
11/13/2009 56,486 261,600 21.59%
11/12/2009 49,970 247,500 20.19%
11/11/2009 55,722 231,500 24.07%
11/10/2009 72,583 258,600 28.07%
11/9/2009 120,193 369,300 32.55%
11/6/2009 74,049 310,200 23.87%
11/5/2009 283,826 1,108,800 25.60%
11/4/2009 93,154 424,700 21.93%
11/3/2009 67,649 243,300 27.80%
11/2/2009 52,631 176,900 29.75%
10/30/2009 83,638 377,100 22.18%
10/29/2009 53,858 210,300 25.61%
10/28/2009 89,146 251,600 35.43%
10/27/2009 92,672 274,800 33.72%
10/26/2009 43,328 173,100 25.03%
10/23/2009 32,878 168,800 19.48%
10/22/2009 103,433 255,900 40.42%
10/21/2009 48,136 172,900 27.84%
10/20/2009 28,482 176,400 16.15%
10/19/2009 20,822 87,100 23.91%
10/16/2009 26,926 103,200 26.09%
10/15/2009 32,316 104,800 30.84%
10/14/2009 25,042 101,600 24.65%
10/13/2009 9,314 127,100 7.33%
10/12/2009 13,054 59,000 22.13%
10/9/2009 9,549 93,600 10.20%
10/8/2009 51,390 257,600 19.95%
10/7/2009 34,624 119,400 29.00%
10/6/2009 27,796 250,400 11.10%
10/5/2009 18,623 126,400 14.73%
10/2/2009 44,597 188,500 23.66%
10/1/2009 68,576 239,500 28.63%
Total 5,073,141 19,406,742 26.14%
* 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.
The Andersons, Inc. (NASDAQ: ANDE), together with its subsidiaries, operates in the agriculture and transportation markets in the United States. It operates in five segments: Grain & Ethanol Group, Rail Group, Plant Nutrient Group, Turf & Specialty Group, and Retail Group. Grain & Ethanol Group segment purchases and merchandises grain; operates grain elevator facilities located in Ohio, Michigan, Indiana, and Illinois; and provides management and corn origination services to ethanol production facilities. Rail Group segment buys, sells, leases, rebuilds, and repairs various types of used railcars and rail equipment. It also provides fleet management services to fleet owners, and operates a custom steel fabrication business. Plant Nutrient Group segment purchases, stores, formulates, manufactures, and sells dry and liquid fertilizer to dealers and farmers, as well as sells reagents for air pollution control technologies used in coal-fired power plants. It also provides warehousing and services to manufacturers and customers; formulates liquid anti-icers and deicers for use on roads and runways; and distributes seeds and various farm supplies. Turf & Specialty Group segment produces granular fertilizer products for the professional lawn care and golf course markets; and private label fertilizer, corncob-based animal bedding, and cat litter for the consumer markets. It also sells consumer fertilizer and control products for ado-it-yourselfa� application, to mass merchandisers, small independent retailers, and other lawn fertilizer manufacturers, as well as performs contract manufacturing of fertilizer and control products. Retail Group segment operates six retail stores; a specialty food market; a distribution center; and a lawn and garden equipment sales and service shop. The Andersons, Inc. was formerly known as The Andersons Management Corp. and changed its name to The Andersons, Inc. in January 1996. The company was founded in 1947 and is based in Maumee, Ohio.
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