Death Of The Penny Stock Market - Sec Suspends 379 Companies On OTC - Blogs - Waking the Bull
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Death Of The Penny Stock Market - Sec Suspends 379 Companies On OTC

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by
RighteousTrader
on 05-16-2012 at 05:59 PM (589 Views)
Quote Originally Posted by RighteousTrader View Post
So i guess another nail in coffin for the penny stock market, and any hopes of legitimate small companies gaining entry into capital markets.
Now granted there is a lot of S#IT scams in penny world, but why not let individual investors make up their own minds.

Sec same agency who was watching porn while Bernie Madeoff was fleecing everyone, but yet they have time to try to destroy small cap companies.

My .02 cents


http://www.sec.gov/litigation/suspen...2/34-66980.pdf

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  1. jts187's Avatar
    I'm taking a wait and see approach to this. IF those companies are indeed nothing more than paper, than more power to the SEC. Having said that, I would much rather see them suspended after they are proven to be in violation, and not just on suspicion. I agree that it should be the investor that ultimately asses the risk factor in any given trade, however I see nothing wrong with getting a few of the scams out of the way so long as the process taken to do so doesn't amount to a witch hunt. To me, there is no logical reason why any company running a scam based on its very existence should be allowed to be presented as tradeable. As far as nails in the coffin of penny trades, my brokers have done more to harm me there than the SEC has, or most likely ever will.

    My .0001 cents. Time to R/S.