Is it illegal to keep withdrawing money from a bank account deposit it at a different bank, transfer it back over and withdrawing it again to cause a bank run to short a stock?
I just found out a local shitty bank is a publicly traded stock with a 2. And I’d like to short it.
My plan is to withdraw cash like 100$ from them and deposit it with a different bank then transfer it back to them and withdraw the same 100 $ until they run out of physical cash. I would then go around and let people know that when I tired withdrawing money from them that there was no cash to withdraw.
This in turn should cause aand I’m assuming a decent amount of people would close their accounts leading for the stock price to fall.
Puts are extremely cheap and I would love for this bank to go out of business or lose public trust.
Has anybody tried this method before? Are there any REAL downsides?