Jun. 24 at 8:18 AM
$LNAI Zero to borrow - again :) They were only available for a short time, if at all. I think this could be a plausible and coherent explanation. (my interpretation)
Appears at 05:50 UTC Monday morning, before any market opens, before any trader would need a locate.
Rate set at exactly 413.22% — start, min, max, latest all identical, meaning the rate never moved during the 95-minute window...
It disappears again at 07:24 UTC — still well before any market opens.
No FINRA short volume spike on Monday June 22, that would indicate anyone actually borrowed at that rate
If someone had borrowed those 15,000 shares to establish a new short position going into Monday's open, you would expect to see it show up in the June 22 FINRA data. The June 22 short ratio of 43.67% on 439,859 total volume is actually below the prior period averages — not consistent with aggressive new short selling at 413% borrow cost.
So the most Occam's Razor reading: a lender put 15,000 shares up at 413% to plant a price signal — "this is what borrow costs now" — and then withdrew them. Nobody paid 413% for 15,000 shares.
I believe the purpose was never to lend. It was to set a reference rate on the public feed that any short seller monitoring the borrow market would see and interpret correctly.
The message: if you want to borrow
$LNAI, the floor is 413%. And the supply to do it with is essentially nothing.
Whether this was a sophisticated holder making a statement, or a broker testing the market, the effect is the same — it repriced the cost of being short without actually facilitating any new short positions. A ghost offer rather than a genuine one.
