01 Mar SEC Halts Trading in 15 Stocks Due To Social Media Concerns
The U.S. Securities and Exchange Commission suspended trading in 15 companies on Friday, February 26th, citing questionable trading and social media activity. Trading was suspended because the SEC had questions regarding recent increased activity and volatility in the trading of these issuers, as well as the influence of certain social media accounts on that specific trading activity. Additionally, none of the issuers have filed any information with the SEC or OTC Markets for over a year.
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).
The SEC can prohibit trading for 10 days and bar a broker-dealer from soliciting investors to buy or sell the stock again until certain reporting requirements are met.