Homepage > News > SEC suspends trading in 21 stocks due to activity in social media

SEC suspends trading in 21 stocks due to activity in social media

The US Securities and Exchange Commission (SEC) has suspended trading in 21 stocks due to “questionable trading and social media activity”.

According to the regulator, the action taken by him is aimed at protecting investors. According to the SEC, the securities excluded from trading could threaten the interests of traders and lead them to losses. Under federal stock trading laws, clerks have the right to suspend it for 10 days.

A significant reason for all the recently introduced restrictions is the suspicion that the activity of various social media accounts is trying to influence the stock quotes of some companies. The regulator’s actions may be partly related to the activity of the WallStreetBets group on the Reddit discussion forum.

We actively monitor suspicious trading activity related to the promotion of securities on social media and act swiftly to stop this trading, when appropriate, in order to protect the public interest – said Melissa Hodgman, director of the SEC’s Enforcement Division

Companies whose shares were excluded from trading on Feb, 26th:

  • 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);
  • Wisdom Homes of America Inc. (WOFA).

Companies excluded from trading by the SEC, earlier last week:

  • Bangi Inc. (BNGI);
  • Sylios Corp. (UNGS);
  • Marathon Group Corp. (PDPR);
  • Affinity Beverage Group Inc. (ABVG);
  • All Grade Mining Inc. (HYII);
  • SpectraScience Inc. (SCIE).
Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.


Last news:

german economy

German Business Climate Dips, Indicating Looming Extended Recession

A successive drop in German business morale in June indicates an impending lengthier recession for ...
ropa naftowa

Nigeria’s Oil Market Faces Crisis as Half of Output Goes Unpurchased

The Nigerian oil market is currently facing a significant surplus, with nearly half of next ...
Week for Wall Street

Stock Futures Fall, Investors Eye Powell’s Testimony

Stock futures are indicating a downtrend ahead of the Federal Reserve Chair, Jerome Powell's second ...

Euro Maintains Position Despite Russia’s Drastic Reduction in Use – ECB Report

Despite Russia's significant reduction in its use, the Euro stood its ground as the world's ...

Add a comment

Your email address will not be published. Required fields are marked *


Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top