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merry christmas and to all.
Could the OTC see an influx of new trading opportunities from Nasdaq penny stocks moving to OTC? https://news.slashdot.org/story/24/08/08/155218/nasdaq-has-hundreds-of-penny-stocks-now-its-trying-to-purge-them (read last paragraph about one of the proposed changes) This could be a good thing for OTC. However, Like I have always said....we still need the amendments to 15c2-11 rolled back and expert market to be opened up to retail preferably by moving those stocks to pink limited and brokers becoming more penny stock friendly.
it will got a few that are expected to go pinks by end of jan
Looks as though the guy Trump picked for SEC chairman is a major crypto advocate. https://www.axios.com/2024/12/04/paul-atkins-trump-sec-crypto which unfortunately means he will most likely not want to see the return of the OTC (it would mean less money to flow to crypto) I give up......OTC is never coming back.
The incoming administration is the same one that was in power when 15c2-11 amendment was proposed. As Big Brother said.....they wanted OTC volume to go to big boards to prop them up. That being said....who knows, maybe a new SEC chair will have his own viewpoints and will rollback those regulations. There is always a chance. I really do want to see the OTC come back. It's depressing.
Wow. I have heard of that happening, but I've never seen it myself. I have several now that are just numbers. I've been holding onto everything just in case.
This really is the time of somebody wants to create a Robinhood like app for the OTC market. The incoming administration is all about less regulation and smaller government.
I wish ADSV would get out of expert market. Fell in the trap in 2020 and been holding quite of bit in worthless shares now... sucks..
I don't even know for sure (my guess is it was a number). I just saw this ticker that was up a huge percentage in my account that didn't look familiar. Looked up the company and that didn't even ring a bell. So I went in my transaction history and saw I had bought it in 2019, so it must have gotten revoked shortly thereafter.
Wow. Was it just a number and not a ticker anymore?
Nice. I'm hoping to get back into trading soon.
Getting re-reregistered is far rarer than a rebound from the EM!
One would hope that things might change. A holding of mine from years ago got reinstated recently. RNGC (Ranger Gold) had its registration revoked in 2019, and just recently got reinstated. I still can't buy additional shares at my broker, can only sell. But hey, to be reinstated 5 years later is very unusual. At least it's something.
Just got ASPU today, but barely any volume yet.
I have a feeling we are going to a fresh new batch of grey to pinks sooner or later.
Can't help but feel optimistic after the last four weeks.
Merry Christmas everyone!
Atkins appointees new SEC Chair, hopefully he revives OTC by getting rid of or adjusting SEC RULE 15C2-11 to allow FREEDOM of Trade on all securities
https://x.com/jmoney_hoops/status/1864366957077909956?s=46&t=EuLw-SVIgNfV5yGP5vc4tQ
BCAP-- put it on your watch list-- its coming back to the markets. Filings submitted.
DREM and MITI expert to Pink Current
So disgusting hopefully brokers allow trading to ALL Securities soon
Funny thing is that trades of companies without current info, only made up like 2% or less of the total OTC dollar volume, even going back to the mid 2010's, so it was never really that big of a deal to begin with, it was just another excuse to push some new regulation and another nail in the OTC coffin.
Seems like they wanted to screw with retail again with that announcement. Those tier changes don't mean a thing if the expert market continues to exist. Time to accept it....OTC is gone for good.
Well, that sucks. Bubble bursted LOL. As long as the "expert market" exists, I will not be trading these. Bummer.
I would not get too excited yet, OTCM has already edited the blog post from what they had originally. Both the Expert Market and the Pink Limited Market will exist.... as it does now.
Hopefully the changes will now allow us to buy reverse merger/custodianship plays like before......rather than being opportunities for only "sophisticated investors". What a bunch of corrupt B.S. that was.
I have not played penny stocks since the new rules took effect. In July, I will be returning......I think it will be a great opportunity.
When we get closer to July and the new tier system.....I will most likely open an Etrade account. Hopefully, Schwab will become more penny stock friendly with these changes. On the surface, i really don't see why these changes could not lead to an excellent comeback for penny stocks......as long as the brokers play ball and perhaps some of the high rollers return to the OTC market. Hopefully we will see brokers allowing trades on expert market stocks in the meantime......not likely, but there is a chance.
Dealing with anyone lower than a supervisor is a waste of time IMO. I think most of their employees have a map to work and ride the short bus.
I'm on month 4 of getting control of my parents accounts since they are in their 90s and I've traded their accounts for the past 8 years, every month or so I get a new batch of "corrected" paperwork from them to sign then take over to my folks to have them sign again and again until the next batch of "corrected" paperwork arrives.
Very frustrating and I have a short fuse to start with.
I had some shares of a stock that had been revoked and had no ticker symbol any longer, I just wanted it removed from my account as a worthless security for tax purposes. Good grief, I had to go though three tiers of 'customer service', was on the phone for about 30 minutes, then finally to a supervisor who removed them. They didn't know what was going on, it was like something they had never seen or heard of before, TDA use to just remove them in no time. I didn't think anyone could be more worthless than TDA customer service but Schwab might actually be worse.
I slammed Schwab in a review when they told me I could only sell my expert tickers "at Market" then I got a call from them and they said I can enter my sell price GTC where ever I want but no guarantee it will sell. I told him that was fine but I'll be damned if I'm gonna place a market order where Schwab can frontload the shares at .0001 when the last trade was at 4 cents.
So now I have to go thru 7 accounts and call in each expert market I want to liquidate on my terms and GTC - I have to do each one thru a broker instead of just entering them like I did with TD Ameritrade.
I need to put in some more test bids on Pink Limited tickers, to see if there is any sort of rhyme or reason, to what you can or can not trade with Schwab. I don't think there is, I've seen others complaining about it but we'll see, I have not really tried to buy many in the last few years, so I'm not sure.
It was already happening. The Expert Market was created to stop retail traders from pumping and dumping 'stop sign' tickers that had no info. However, that just opened the door for fraud with sophisticated investors instead, I don't know how many times I saw them load up on shit @ .000 cents on EM, that then just happened to magically go Pink Current a short time later, trading at much, much higher prices.
I predicted that would happen years ago.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=166757417
I disagree with both of you. I think the tiny little pink OTC shelves were simply collateral damage. I think the regulations were aimed at getting noncompliant foreign companies off of US exchanges as they had a little incentive to comply with reporting requirements. Just look at the list of stocks that move off of OTC to expert market every day. Most of them have five character stock symbols, and this was even more prevalent when the regulations first kicked in.
I don't think so.....I think they wanted to punish OTC traders for a while after Gamestop. They are now letting us out of our rooms to see our friends again.
Perhaps I'm just cynical, but this sort of makes me wonder if this whole thing wasn't just a scam for market makers to make money. With very few exceptions, they were the only ones who could buy (often at prices like .0003). So they got tons of shares incredibly cheap, and then, voila, all of a sudden they change the rules and now the public will be able to buy the stock again, and the mm's will be selling their shares to the public, probably at prices more like .03 -- that's a 100-bagger
We're not there yet, but it makes me wonder.
Agree....I am with Schwab and they are terrible. Maybe Etrade will step up.
Nothing wrong with a more streamlined process. I don't mind that at all. We could see shell custodians start taking possession of some good shells and keeping up filings on those. Future looks bright. Could definitely be a return to the goof 'ol days.
Agree.....but the news is very promising, I do not think all EM stocks will be purged but we will see. I just wish we did'nt have to wait until July 2025 for the new changes to take effect. Perhaps they will surprise us and open up expert market trading at some point beforehand.
and that could lead to a return of reverse merger plays.....this is great news.
Big Brother, this sounds promising. Don't you think that this could lead to a return of reverse merger plays as well? (the OTC's biggest runners). This is big. I think that the powers that be realized what a colossal mistake the new rules were (especially the expert market) and that it killed a once prosperous market. This could be the return of the OTC. What do you think?
Yeah, I believe FINRA only deletes those symbols due to inactivity, so as long as a broker is allowing trades on them they should be OK and a safer bet than delinquent SEC filers for sure.
I agree the delinquent SEC ones who aren’t active on the state level will get revoked/delisted but the “dark or defunct” tickers that are OTCM reporters should be fine and transition to Pink Limited status
Not enough info yet to say how it will turn out, we can only speculate. Certainly the dollar volume dropped off significantly after the amendments to Rule 15c2-11 went into effect. However, Covid played a big role in OTC trading boom of 2020/2021....and then 2023 saw a very, very steep decline, like 1/2 the dollar volume of 2021.. but... a lot of factors played a role there, not just the Expert Market trading restrictions and amendments to Rule 15c2-11. Inflation and more people going back to work, rather than working from home had a huge impact.
I'm going to predict that a large number of EM and Grey tickers will be purged through revocations and FINRA symbol deletions leading up to July 2025. The EM will be eliminated, whatever is left will become Pink Limited and any future delinquent filers will have 1 or 1/2 years before being revoked. In the meantime though, we should have a broker willing to let us trade them, much like the Pink No Info('stop sign' tickers). If so, I'll be taking a flyer on some of those for sure. Just like the old days, looking for unusual volume spikes on those, for possible clues to a social media pump or the stock coming back to life....or just trying to catch bidwhacks before going to Pink Limited, or on Pink Limited, in the hopes they will come back.
Another big thing, does this mean CE stocks are gone as well!?
What brokers allow Pink Limited stocks to be traded?
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