Can a hedge fund with restricted stock short the stock before the lockup ends?

Amun Ra said:
Maybe there's some hedge fund guys in here that can answer this. But say you have a fund that owns a lot of shares of a stock that they are restricted from selling for 6 months. The stock goes on a massive run and the fund wants to dump their shares at these peak prices, but can't. Can they short the stock and then use their shares to cover when the lockup expires, or is there something in Rule 144 that doesn't allow that?
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That was a good question though lol. I was actually wondering the same thing earlier when I saw $CLIR up 250%; I looked up the % owned by the insiders (49% in this case) and wondered if they could do that. Restricted or not.

newwurldmn said:
Plus tables at Le Cirque weren’t cheap.
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I think that former Philippine President lady dropped like $30K on dinner there one night back in the day as I recall. Didn't go over real well back home.
 
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