HOTH - Hoth jumps 26% on deal to monitor illegal short selling

• Nano-cap pharma Hoth Therapeutics ( NASDAQ: HOTH ) climbed ~26% on Thursday after announcing an agreement with Shareholder Intelligence Services, LLC (ShareIntel) to monitor key shareholder activities and take action against naked short selling.
• More than 6M Hoth ( HOTH ) shares have changed hands so far, compared to the 65-day average of ~866.5K. The company has a short interest of ~9%, and its public float stands at ~721.9K shares.
• "Through investigating reporting anomalies, we should be able to better understand and identify any suspicious and or unusual trading activity, and implement action to protect investors from illegal naked short selling," Chief Executive Robb Knie remarked.
• ShareIntel offers a compliance-driven SAAS for public firms to track shareholder ownership and monitor key broker- dealer and shareholder changes.
• Unlike conventional short selling, where an investor first borrows the shares, naked short selling involves shares that do not exist, Seeking Alpha contributor Kent Thune explains.

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