Today the U.S. Securities and Exchange Commission made headlines after announcing that 15 companies made its suspended stocks list. What happened? And what else should you know as the SEC suspends trading in certain equities?
In a press release from Friday, the SEC says it has been actively working to combat market manipulation during periods of volatility. To do so, it is taking a closer look at any unusual trading activity and the use of social media. One thing it is particularly worried about is the use of social media to artificially inflate stock prices.
According the SEC, it has thus far suspended trading in roughly 24 companies. This figure includes the 15 companies from today. And in addition to their questionable use of social media, it also says that none of these companies had filed with the SEC or OTC Markets for a year.
With that in mind, here are the 15 latest companies added to the suspended stocks list:
- Bebida Beverage (OTCMKTS:BBDA)
- Blue Sphere Corporation (OTCMKTS:BLSP)
- Ehouse Global (OTCMKTS:EHOS)
- Eventure Interactive (OTCMKTS:EVTI)
- Eyes on the Go (OTCMKTS:AXCG)
- Green Energy Enterprises (OTCMKTS:GYOG)
- Helix Wind (OTCMKTS:HLXW)
- International Power (OTCMKTS:IPWG)
- Marani Brands (OTCMKTS:MRIB)
- MediaTechnics (OTCMKTS:MEDT)
- Net Talk.com (OTCMKTS:NTLK)
- Patten Energy Solutions Group (OTCMKTS:PTTN)
- PTA Holdings (OTCMKTS:PTAH)
- Universal Apparel & Textile (OTCMKTS:DKGR)
- Wisdom Homes of America (OTCMKTS:WOFA)
You can read the full press release here.
SEC Suspends Trading: The Bottom Line
So what else do you need to know? As the SEC suspends trading in these companies, it also shared information about previous suspensions. Investors should note that the SEC has the power to suspend trading for 10 days. It can also prohibit a broker-dealer from soliciting investors to buy or sell the stock until the company in question meets reporting requirements.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah smith is a Web Content Producer with InvestorPlace.com.