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A comment on Naked shorting: The curious incident of the shares that didn't exist (2005). Parent comment

Re:Naked shorting: The curious incident of the shares that d... by FabHK on Sunday January 31, 2021 @06:43PM (#25983826)
He owned the equity, and therefore theoretically had control over its management. The firm might still have a lot of debt, so be owned largely by banks (or bond holders).

Firm value = equity ("market cap") + debt + various, see

https://en.wikipedia.org/wiki/Enterprise_value

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Re:Naked shorting: The curious incident of the shares that d... by caminante on Sunday January 31, 2021 @09:05PM (#25984814)
> He owned the equity, and therefore theoretically had control over its management.

Except, for example, if there were different share classes with voting rights or if the "float" is small [0].

[0] https://www.investopedia.com/articles/basics/03/030703.asp

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