Skip to comments.SEC Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity
Posted on 02/26/2021 1:52:58 PM PST by justlittleoleme
Today's action follows the recent suspensions of the securities of numerous other issuers, many of which may also have been targets of apparent social media attempts to artificially inflate their stock price. The SEC continues to review market and trading data to identify other securities where the public interest and the protection of investors require trading suspensions.
"The SEC's recent suspensions of trading in nearly two dozen securities – including 15 today – are one facet of our ongoing efforts to police the market and protect investors," said Melissa Hodgman, Acting Director of the SEC's Division of Enforcement. "We proactively monitor for suspicious trading activity tied to stock promotions on social media, and act quickly to stop that trading when appropriate to safeguard the public interest. We also remind investors to exercise caution and do their diligence before investing generally, including in companies promoted on social media."
Today's order states that trading is being suspended because of questions about recent increased activity and volatility in the trading of these issuers, as well as the influence of certain social media accounts on that trading activity. The order also states that none of the issuers has filed any information with the SEC or OTC Markets, where the companies' securities are quoted, for over a year. As a result, the SEC suspended trading in the securities of: Bebida Beverage Co. (BBDA); Blue Sphere Corporation (BLSP); Ehouse Global Inc. (EHOS); Eventure Interactive Inc. (EVTI); Eyes on the Go Inc. (AXCG); Green Energy Enterprises Inc. (GYOG); Helix Wind Corp. (HLXW); International Power Group Ltd. (IPWG); Marani Brands Inc. (MRIB); MediaTechnics Corp. (MEDT); Net Talk.com Inc. (NTLK); Patten Energy Solutions Group Inc. (PTTN); PTA Holdings Inc. (PTAH); Universal Apparel & Textile Company (DKGR); and Wisdom Homes of America Inc. (WOFA).
(Excerpt) Read more at sec.gov ...
::police the market and protect investors,” said >>>Melissa Hodgman<<< ::
We can’t have a bunch of snot-nosed mouth breathers living in their parents’ basements outperform the hedge funds.
Sounds like the ‘right people’ were losing $$$.
Can’t have that now...
This is beyond my knowledge base.
Is this normal?
Melissa Hodgman - wife of Peter Strzok
This is crooked crap by the SEC
Just a fyi for those who don’t know it,
Melissa Hodgman... AKA Mrs. Peter Strzok
Also beyond my knowledge base but that didn't stop me from buying into GME.
SEC is protecting Wall Street, not guys like us.
I guess all those companies listed as suspended from trading are currently being shorted by hedge funds?
not going to go through the list but likely penny pump and dumps
“not going to go through the list but likely penny pump and dumps”
For now. We’ll see.
They may be shorted but that doesn’t change the fact that they are likely penny (and below penny) pump and dumps.
Look at the prices of them before the halt
It is crooked in the way they seem to have handled it. But the companies did not comply with filings (which filings?). I’ve seen companies that fall out of compliance, they get a written warning and X days to comply, and usually those that do make the notice public well in advance so investors are made aware, and make an effort to get into compliance.
If not, they go to the OTC markets (used to be called the ‘pink sheets’) but many of the consumer facing brokerages don’t offer OTC stock trading.
This is just the first step to “Protect us”
The next step will be to ban internet chat rooms that talk about stocks.
And then you know the next step right?
Gotta give it to the Dems, they got incrementalism down pat.
yes, it is normal and they dont do enough of it.
the people involved might get a slap on the wrist..one or two might go to jail..but they will move on and do it again.
sometimes with a new front man for the CEO..and sometimes the same CEO
Here is an example of how it works. Btw, this guy is on twitter with his own pay for his view stock ideas but some of his cohorts went to jail. Which begs the question...did he make a deal?
I assume they are micro cap stocks being "pumped" by professional con men?
Internet "Pump and Dump" has been going on since at least 1996, when I first discovered Yahoo stock market chat rooms.
If you believe chat room market advice, your parents or your girlfriend need to take away your money before you hurt yourself.
The money line from the article:
“The order also states that none of the issuers has filed any information with the SEC or OTC Markets, where the companies’ securities are quoted, for over a year. “
It is a big NO NO in the SECs eyes to not file and or communicate your current financials. I am surprised that the listed issuers were allowed to not file for a year.
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