US Stock Market Regulator SEC Suspends Trading in 15 Companies Over Social Media Action

WASHINGTON (Sputnik) – The Securities and Exchange Commission, regulator of the US inventory market, introduced on Friday that it has suspended buying and selling in 15 firms that engaged in questionable buying and selling and social media exercise.

The 15 firms have been recognized as Bebida Beverage Co; Blue Sphere Corporation; Ehouse Global Inc; Eventure Interactive Inc; Eyes on the Go Inc; Green Energy Enterprises Inc; Helix Wind Corp; International Power Group Ltd; Marani Brands Inc; MediaTechnics Corp; Net Inc; Patten Energy Solutions Group Inc; PTA Holdings Inc; Universal Apparel & Textile Company; and Wisdom Homes of America Inc.

The suspensions got here on the heels of comparable motion enforced on  securities of different firms believed to have been targets of social media makes an attempt to artificially inflate inventory costs, the SEC stated.

The regulator stated it routinely evaluations market and buying and selling information for such exercise in the general public curiosity and to guard buyers. “We additionally remind buyers to train warning and do their diligence earlier than investing usually, together with in firms promoted on social media,” Hodgman added.

Under the federal securities legal guidelines, the SEC can droop buying and selling in a inventory for 10 days and customarily prohibit a broker-dealer from soliciting buyers to purchase or promote the inventory once more till sure reporting necessities are met, the assertion stated.


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