RE: Red Braces Brigade29 Apr 2021 17:36
SYME are really a broker, taking a % fee for the job. A funding bank provides cash, the co. with stock sign a release, stock is "owned" by the funding bank and as it's sold the bank gets repaid with interest and SYME get their cutup front and I think on stock sale.
Looks like they never "own" the stock, that's the risk of the funding bank.
Sounds strange, but it does make a kind of logic, although while the company SYME say they have 160+ companies ready to go, and a captive bank and several other funders, I am not sure ANY have completed yet!
Be wary anyway!!!
On a trading basis I haven't lost, some were day trades several were days, and one weeks!
V