On: Uber IPO underwriter so certain IPO was overpriced they shorted it themselves

[ganeshkrishnan]

How did these "naked shorts" clear the trading floor if there was no one selling them? What is the real technicality here as "naked shorts" are not illegal per se.

[airstrike → ganeshkrishnan]

MS as the underwriter sold more than 100% of the shares, which means it was effectively shorting.

Also worth noting "naked shorts" and "naked shorting" are two different things... https://www.bloomberg.com/opinion/articles/2019-05-15/wework...

[ganeshkrishnan → airstrike]

Interesting tidbit. I was not aware of the difference