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These custodian companies are trying to buy up dead tickers and get them current so they don't get revoked. This is causing prices to skyrocket.
Point is. They don't disappear and can still become current.
"Transforming the OTC Markets – OTC Markets Blog" https://blog.otcmarkets.com/2021/01/26/transforming-the-otc-markets/amp/
And you're wrong again. Read carefully.
Companies that do not provide current information, or meet the requirements for ongoing quoting, may be eligible to be quoted on our ‘Expert Market.’
In other words, the SEC isn't shutting down a bunch of tickers in bulk in September. For anyone to think that "must be kind of slow" in the words of someone on here.
Bid is large on 7's.
After three years my .0001s were sold when it ran to .002. The joys of micro pennies.
What is SSM?
And I guarantee people are going to short this heavily. So it could be a squeeze too.
This trades so thin. It is being pumped on Twitter. As soon as some people take profit, it will fall as fast as it came up.
Just because you can't buy on Etrade or major platforms doesn't mean they can't be bought. And if you think that the SEC is an efficient enough organization to police this, you are sadly mistaken.
I did that with a worthless ticker before. You can write it off on your taxes then. I own a gray (expert) market ticker right now. There isn't a bid and ask, but I have been unloading my shares at a profit, so it's been working out OK for me.
Can they still trade on Grays?
MMS can buy them. I've sold 22M of mine since this has gone defunct.
Where does it say that?
New rules will affect your ability to buy and sell “Pink No Information” securities, including at E*TRADE
On September 28, 2021, new requirements take effect that will impact the market for—and value of—certain “over-the-counter (OTC) securities” you currently hold or have held in the past. The new rules apply to “Pink No Information” OTC securities of companies that fail to publicly report and keep current financial and other company information and will restrict the ability of U.S. brokers, like E*TRADE from making these products generally available.
Some background on the new requirements
The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15c2-11 governing the submission and publication of OTC quotations. These amendments will prohibit broker-dealers from submitting or publicly disseminating bid/ask quotations for OTC securities of issuers that do not meet enhanced information filing requirements.
Securities of issuers that make the required information publicly available by the deadline in the rule should not be affected.
What these changes mean for you
Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner. Please keep in mind that the upcoming changes will negatively affect the value of any “Pink No Information” OTC securities you hold now or in the future.
I'm sure he means ask buys vs bid sells
I called Etrade so they would clarify. I read the statement from the email and he said "you will have to acknowledge a statement about the securities being traded before you buy or sell." I then asked why the email said you wouldn't be able to buy and sell and he said he can't say for sure if I'll be able to buy or sell and to contact them closer to the date. I think they are trying to cover their asses just in case the SEC comes down on them.
What do you use? I have a Schwabb account but they limit share purchases to 999,999.
It said sell as well for Etrade. I can forward you the email if you want.
If he doesn't go pink current very soon, no one is going to be able to buy or sell these shells.
Just got an email from Etrade regarding new SEC rules.
Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner.
Pretty sure it's said that for a while.
Saw that on twitter. There's a Twitter handle called shortsqueezed that was pushing it. I keep trying to drop ADTM in there as a potential runner. It came off grays to pink I think and traded super thin.
Haven't you learned already. He's an emotional wreck. He us so angry at John Strong that he bashes the stock that he can't help but still buy. It's priceless watching this guy squirm. 99.9% of otc stocks are worthless. But hey go invest in loge coin. That seems legit.
Been doing this a long time guys....long time...I'm the wolf of pink street. I know these things guys. Been doing it a long time....
John has been quiet for 4 years guys, been doing this a long time....toxic MMs guys, been doing this a long time.
The entire OTC is toxic, what are you talking about.
That's strange. Why would they retreat something that is completely unrelated? Unless it is definitely related.......
I've had a stock suspended and I owned shares. They just became worthless. The only way MMs would have to do that is if they sold shares they didn't own, right?
Balancing books? Please explain in detail what you mean by that with regards to MMs buying shares. That doesn't make much sense to me.
Lol I would laugh so hard if this got memed all the way into pennies without news.
What would be the motivation in doing that?
Listen guys, don't make money off dumb fomo.
Orders keep getting filled. All very strange.
Bid .0001's
I sincerely hope you get left in the dust : )
I've never heard that before. Is there data that shows people bounce from value to micro caps? I had always been under the impression that micro caps were a complete beast of their own.
That's good news. Impatient retail as I suspected.
T53, do you know how often otc markets update the data?
Does anyone know how often share structures are updated on otc markets?
I'm obviously being sarcastic. That guy is worse than a wife. All you hear is him trying to prove himself right to people.
YA MAN, YOU ARE SO RIGHT. LOVE HOW RIGHT YOU ARE. YOURE LIKE THE WOLF OF WALL STREET. YOU PROBABLY HAVE SO MUCH MONEY THAT YOU SHIT GOLD. YOU SHOULD START A GROUP AND GIVE EVERYONE YOUR VALUELESS, I MEAN VALUABLE OPINIONS. SCREW T53, #BOYD69 4 LIFE.