what are you trying to learn about specifically? there's a difference between "obfuscatory gobbeldy-gook" and jargon with technical definitions
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attempt at answering your question: it depends on if its a covered or naked short. if it's a covered short, I would assume you just give the borrowed shares back to the person you borrowed them from. if it's naked, i think you're belly up.
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what does a covered vs. naked short mean? that is surely something you can look up on wikipedia or wherever. i'll answer here for convenience though.
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Replying to @danlistensto
a covered short sale involves borrowing stock from an owner, then selling it immediately and waiting for the stock price to change. you have to return the same amount of stock to the owner you borrowed from so you will buy back that number of shares later.
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Replying to @danlistensto
if the price went down, you buy them back cheaper and keep the difference as profit. if it went up you lose the difference out of your own pocket or its a breach of contract.
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a naked short is illegal in the U.S. but happens sometimes anyway. it is when you do a short sale without ensuring that you can actually get the shares back, either because you didn't borrow them in the first place or you have no market access for some reason.
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