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Are we going to have to start calling them "Nickel Stocks"?
This is a very entertaining read. It has a little of everything we know about investment scams, with UFO's and high level government officials, both real and imagined (the real Wesley Clark, and fake Steven Mnuchin and Antony Blinken) mixed in.
Believing in Aliens Derailed This Internet Pioneer’s Career. Now He’s Facing Prison
https://www.bloomberg.com/news/features/2025-02-05/aliens-derailed-this-silicon-valley-exec-s-career-now-he-s-facing-prison
Hindenburg might chalk up another win.
SEC Says Game Service Roblox Part of ‘Active Investigation’
Roblox Corp., the video-game service used by millions of young people, is part of an active investigation by the US Securities and Exchange Commission, according to information obtained by Bloomberg News.''
Responding to a Freedom of Information Act request, the commission said in a letter Friday that it couldn’t share correspondence between staffers referencing Roblox, saying it could cause “harm to the ongoing enforcement proceeding.”
“We have confirmed with Division of Enforcement staff that there are responsive emails between Enforcement staff referencing Roblox and that these emails are a part of an active and ongoing investigation,” the commission said.
Bloomberg News couldn’t confirm the subject of the investigation. Roblox didn’t respond to requests for comment, and the SEC declined to make any additional comment.
Hunterbrook Media reported in November that Roblox was under investigation by the SEC, citing Freedom of Information Act requests. Hunterbrook cited an October letter from the commission saying it was withholding documents “which could reasonably be expected to interfere with enforcement activities.” Its affiliate, Hunterbrook Capital, had a short position in the shares.
In October, the now-defunct short-seller Hindenburg Research published a report on child-safety concerns at Roblox and also alleged that the company had inflated its metrics, including the number of users who regularly play Roblox games and the amount of time they spend on average on the platform.
“We totally reject the claims made in the report,” a Roblox spokesperson said at the time. “The authors are, admittedly short sellers (and have an agenda irrespective of the substance of Roblox’s business model and results).”
Hindenburg Research announced it was disbanding in January.
Shares of Roblox retreated as much as 4.8% following the Bloomberg News report. They were down 2.4% to $65.53 at 2:33 p.m. in New York.
The video-game company has faced scrutiny over children’s safety on the platform. Since 2018, At least two dozen people have been arrested by police in the US, accused of abusing or abducting victims they’d met or groomed using Roblox, Bloomberg News reported in July.
In 2024, Roblox implemented at least 40 safety changes to its platform, including barring children under age 13 from participating in social chatting games. The San Mateo, California-based company has said safety is its priority.
Shares of Roblox fell 11% on Thursday after the company reported slower-than-expected growth in daily users of its service. It reported 85.3 million active users as of year end.
SEC Obtains Judgment Against Defendant in Microcap Fraud Scheme
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26234
On January 21, 2025, the Securities and Exchange Commission obtained a final judgment against defendant Joseph A. Padilla in an action filed in 2023 alleging a fraudulent microcap stock selling scheme.
According to the Commission’s complaint, filed in the United States District Court for the District of Massachusetts, Padilla knowingly enabled illegal stock sales by people who secretly held enough of the stock of various small publicly-traded companies to dominate the market for their stock. The complaint alleges that Padilla hid those individuals’ identities by selling stock for them through offshore brokerage accounts that he controlled, but that he opened in different names. The complaint further alleges that Padilla traded in his own brokerage account and accounts of family and friends to manipulate stock prices in support of the scheme. Padilla also allegedly enlisted a stock trader at a registered broker-dealer firm to facilitate stock trading as part of the scheme. According to the complaint, the stock sales coincided with stock promotions or news announcements intended to gain investor interest.
Padilla consented to a final judgment holding him liable for disgorgement of $3,139,685 and prejudgment interest of $20,975, offset by $3 million that the Court ordered Padilla to pay in a related criminal case. Padilla also consented to the judgment permanently enjoining him from violating Sections 5 and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The judgment also permanently barred Padilla from participating in an offering of penny stock and permanently enjoined Padilla from participating in the issuance, purchase, offer, or sale of any security other than purchasing or selling securities listed on a national securities exchange for his own personal accounts.
The Commission previously obtained consent judgments against defendant Kevin Dills and four relief defendants. The Commission’s case remains pending against two relief defendants. The litigation is being handled by Michael Moran, Kathleen Shields, Ryan Murphy, and Amy Gwiazda in the Boston Regional Office.
For additional information, see Litigation Release No. 25745 (June 14, 2023) and Litigation Release No. 25952 (March 20, 2024).
And the criminal case against Padilla where he pled guilty to these charges in August 2023.
Former Stockbroker Pleads Guilty to Penny-Stock Securities Fraud Scheme
https://www.justice.gov/usao-ma/pr/former-stockbroker-pleads-guilty-penny-stock-securities-fraud-scheme
Defendant conspired to facilitate and participate in market manipulations and attempted to acquire a fraudulent Ukrainian passport to flee prosecution
BOSTON – A California man has pleaded guilty in federal court in Boston to his involvement as the principal stock trader in a sophisticated securities fraud scheme that generated tens of millions of dollars in illicit profits.
Joseph A. Padilla, 54, of Carlsbad, Calif. and Cabo San Lucas, Mexico, pleaded guilty on Aug. 17, 2023 to one count of conspiracy to commit securities fraud, two counts of securities fraud and one count of attempting to cause the production of an identification document without lawful authority. U.S. District Court Judge Richard G. Stearns scheduled sentencing for Nov. 15, 2023. Padilla was charged in March 2023 along with an alleged co-conspirator.
Padilla is a former stockbroker who was barred from the securities industry in 2012 by the U.S. Securities and Exchange Commission (SEC). Between 2020 and 2022, Padilla allegedly conspired with others to commit securities fraud by facilitating and participating in market manipulation schemes involving the concealed-control of the shares of penny-stock companies.
Specifically, between October 2020 and July 2022, Padilla participated in a market manipulation scheme involving the shares of Oncology Pharma, Inc., a thinly traded company that traded on the over-the-counter securities market under the ticker symbol ONPH. As part of the scheme, a co-conspirator allegedly caused nearly all of ONPH’s free-trading shares to be transferred to multiple brokerage accounts for the benefit of Padilla’s clients at the Cayman Islands broker Valor Capital, with which Padilla had a close, unofficial association. Padilla then engaged in manipulative trading in ONPH designed, at least in part, to artificially drive up the company’s stock price, after which Padilla began dumping the ONPH shares—which were under common control—to unsuspecting investors in Massachusetts and throughout the United States during a promotional campaign, generating illicit proceeds alleged to be in the tens of millions of dollars.
Additionally, between January 2020 and April 2021, Padilla participated in a similar scheme involving the shares of Charlestowne Premium Beverages Inc., a thinly traded company that traded on the over-the-counter market under the ticker symbol FPWM. As part of the scheme, Padilla orchestrated an effort designed, at least in part, to artificially increase Charlestowne’s stock price. He then facilitated the sale of millions of Charlestowne’s shares during a promotional campaign to unsuspecting investors in Massachusetts and throughout the United States, generating illicit proceeds alleged to be in the millions of dollars.
Padilla was arrested on a criminal complaint in August 2022 and released on pre-trial conditions, which included surrendering his passport and not obtaining another passport. While on pre-trial release, Padilla attempted to acquire a fraudulent Ukrainian passport so that he could flee prosecution. Padilla was arrested in January 2023 for violating his terms of release and his pre-trial release was revoked.
The charge of securities fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $5 million. The charge of conspiracy to commit securities fraud provides for a sentence of up to five years in prison, three years of supervised release, and a fine of $250,000. The charge of attempt to cause the production of an identification document without lawful authority provides for a sentence of up to five years in prison, three years of supervised release, and a fine of $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Assistant United States Attorneys James R. Drabick and Ian J. Stearns of the Securities, Financial & Cyber Fraud Unit are prosecuting the case.
The details contained in the charging document are allegations. The remaining defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Even after 92 consecutive years of dividends, this is a good reminder that the payments are never guaranteed.
I wonder how many people bought WBA shares after seeing that juicy 10% yield and thinking it was a steal. Ironically, though, the suspension of the dividend will probably stabilize the stock price.
Walgreens Suspends Nearly Century-Old Dividend to Save Cash
Walgreens Boots Alliance Inc. is suspending the quarterly dividend it’s paid for the past 92 years in a bid to conserve cash as the troubled pharmacy chain attempts to revive the business.
The company said the decision stems from a need to strengthen its balance sheet by reducing debt and improving free cash flow. “Cash needs over the next several years,” including litigation and debt financing, were also important considerations, Walgreens said Thursday in a statement.
The shares fell as much as 9.3% in extended New York trading. The stock has lost about half of its value in the past 12 months through Thursday’s close.
Walgreens had cut its quarterly dividend payout almost in half in early 2024, to 25 cents a share.
Suspending the dividend “is prudent and somewhat overdue,” Leerink Partners analyst Michael Cherny wrote in a research note. The move will aid turnaround efforts even though it will cause some shareholders to offload the stock in the near term.
Evercore ISI analyst Elizabeth Anderson said management is making progress on plans “to put the company in better financial shape over the next few years.” She estimates that the suspension will save about $650 million in fiscal 2025.
Walgreens has struggled as declining pharmacy reimbursements and increased competition from online retailers have dragged on revenue. The company has reportedly been in talks with private equity firm Sycamore Partners to potentially take the company private. Walgreens has also been cutting costs and saving money by closing stores and reviewing its investments.
"Irregardless" is not a proper word.
COWI was a pump and dump from Day 1. Lloyd Spencer has run FOUR pump and dumps on this ticker. There is absolutely NO excuse for any "investor" to not have known this BEFORE they gave him their money to line his pocket. NONE.
I hate to see people get scammed, but damn, this one was so damn obvious that I wonder how any COWI investor was foolish enough to fall for it when the truth was more obvious than the nose on their own face.
No, that GameOn is a different company. Unrelated. That is a Canadian Esports company traded on the CSE.
GameOn was, and is, private, so the SEC would have had a very difficult time investigating them and discovering any information without any tips from those involved. It appears that investors didn't find out until after the Board did, and since the Board self-reported, it would have been the first opportunity for anyone to complain to the SEC, anyway.
This is an example of why the SEC, including Hester Peirce, would rather larger companies raising large amounts of cash were public, not private. Not enough sunshine.
Although Beckman and Lau didn't get married until 2023, they were partners for some time before that. She was working with him at GameOn since at least 2019 when the fraudulent activity seems to have started, or at least kicked into gear. Who is to say that perhaps she was the crooked one and influenced Beckman?
SoftBank-Backed Fish Startup Allegedly Faked Most of Its Sales
https://finance.yahoo.com/news/softbank-backed-fish-startup-allegedly-141253969.html
EFishery Pte, one of Indonesia’s most prominent startups, may have inflated its revenue and profit over several years, according to an internal investigation triggered by a whistleblower’s claim about the company’s accounting.
A preliminary, ongoing probe into the agritech startup, backed by investors including SoftBank Group Corp. and Temasek Holdings Pte, estimates that management inflated revenue by almost $600 million in the nine months through September last year, according to a 52-page draft report circulated among investors and reviewed by Bloomberg News. That would mean more than 75% of the reported figures were fake, the report said.
EFishery, which deploys feeders to fish and shrimp farmers in Indonesia, was a darling of the nation’s startup scene and scored a valuation of $1.4 billion when G42, an AI firm controlled by United Arab Emirates royal Sheikh Tahnoon bin Zayed Al Nahyan, backed its latest funding round. It has raised hundreds of millions of dollars in an attempt to modernize the country’s fish industry, providing farmers with smart feeding devices as well as feed, and then buying their produce to sell into the broader market.
Investors were initially enticed by its profitability at a time when layoffs, CEO resignations and plummeting valuations in the tech sector dominated headlines. It presented a $16 million profit for the first nine months of 2024 to investors, but the investigation commissioned by the board alleges the firm actually generated a $35.4 million loss.
Revenue for the period was estimated at $157 million, rather than the $752 million investors were told, according to the report. Management also inflated revenue and profit numbers for several previous years, the report said.
The report was initiated after a whistleblower approached a board member with allegations that the accounts weren’t accurate, according to people familiar with the matter. The board then commissioned a formal investigation in December, and dismissed co-founder and Chief Executive Officer Gibran Huzaifah after the accounting inconsistencies were discovered, the people said.
“We are fully aware of the gravity of the market speculation and we take this matter with the utmost seriousness,” eFishery said in an emailed statement. “We remain dedicated to upholding the highest standards of corporate governance and ethics in all of eFishery’s operations.”
The report, authored by FTI Consulting, is marked as a draft and subject to further changes as the investigation continues. It’s based on more than 20 interviews with company staff and reviews of accounts and messages on WhatsApp, Slack and other channels, according to the report. The draft report notes that investigators haven’t yet spoken with the auditors or reviewed any audit workpapers or other documentation. The numbers are likely to change further, with bank statements, interviews and other accounts still yet to be found or completed.
Huzaifah didn’t respond to messages seeking comment. Temasek and SoftBank declined to comment, while representatives of FTI and G42 didn’t immediately respond to queries.
Shareholders and directors have been surprised at the scale of the alleged fraud given the protective measures that were put in place, including channel checks and exit interviews of staff, said one of the people, who asked not to be named as the matter is private. EFishery had previously hired PricewaterhouseCoopers and Grant Thornton to audit financial results. The two accounting firms didn’t respond to requests for comment.
Investor calls have been taking place since the investigation began and the key question will be what to do with the company’s assets and remaining cash, one of the people said.
While eFishery said it had over 400,000 fish feeders in operation at customers, initial investigations estimate it only had about 24,000. In total, internal books show retained losses at roughly $152 million from its inception until November 2024. While the total assets of the firm stand at $220 million, this includes $63 million in accounts receivable and $98 million in investments, according to the report.
The allegations of fraud may be damaging for Indonesia’s startup scene, and come at a critical time as young companies and investors in the country struggle to raise new funding. EFishery was the nation’s latest so-called unicorn, or a startup valued at more than $1 billion.
I don't. But I would also like to know. Either he is being thrown under the bus, or his lack of knowledge of the regulations put himself there.
Elon needs to write the check.
There is ZERO question that he violated the reporting requirements under Section 13(d). As the SEC states in their compliant, "Section 13(d) of the Exchange Act is a strict liability statute". You either comply, or you don't. Period. Ignorance of the law, or a mistake by his lawyers, is not now, nor has ever been, a legitimate excuse for failure to comply with the law. Not here, not anywhere.
The second issue, the filing of the wrong schedule (13G vs. 13D) is a little less clear, but I still have no doubt that was wrong. Again, a strict liability statute. But I can imagine the SEC will let that one slide but not the first. If they did, it would send the message the rich and powerful, and connected, are allowed to play by different rules than everyone else, and are allowed to screw the public out of their hard earned money whenever it suits them without consequence.
He needs to write the check and just let it quietly go away.
I agree - shorts are just part of the market. Why shouldn't a person have a different opinion of something? But that also explains why a lot of people are so vehemently angered by the shorts. They don't like someone saying they are wrong. It very much mirrors broader society these days, doesn't it? The facts that matter is a person's own and only their own. Everyone else's facts/opinions are wrong, and shouldn't even be allowed to be voiced, much less acted upon.
Anson's relationship to Hindenburg is unclear. It is very possible, if not likely, that Anson is one of Hindenburg's investment partners, if not one of their direct investors. If that were the case, the snapshot provided would make a lot more sense, and discredit the claims of securities fraud.
And the claims themselves are quite outrageous. It starts by claiming that Anson actually did the research and wrote the piece, but the evidence is pretty clear that was not the case and Hindenburg wrote it and sent it to Anson for suggested revisions - not the other way around.
Canoo has filed Chapter 7 bankruptcy.
Another EV maker bites the dust.
The stock (GOEV) closed today at $1.35. It will be wiped out, and shareholders will receive nothing.
But how many pumpers will claim otherwise?
BANKRUPT. Chapter 7 liquidation.
The stock will be wiped out, and shareholders will receive nothing.
https://finance.yahoo.com/news/canoo-inc-announces-chapter-7-011500409.html
Hindenburg The Movie is more likely to be Hindenburg the Series. It has Netflix or Apple+ all over it.
No joke. I am very serious. If they present it well, it could be a very positive catalyst on the financial markets.
My god, someone spent $20 on this stock and people go nuts.
Twenty whole dollars. I likely have more than that in my car's change drawer.
People must really be desperate and lost a TON of money on these lies. Pump and dumps will do that to people.
Oh come on Janice. Naked shorting IS a fraud. Not the shorting itself, which is pretty much non-existent, but the CLAIMS of naked shorting, which are made by so many penny pumpers and scammy companies when they know the claim is false. They shout naked shorting as a mechanism for their pump and dumps.
That is the very definition of fraud.
But something tells me that is not what the other poster was getting at...........
The SEC today just charged an organized group of shorting ahead of secondary offerings. They did it to at least 200 offerings, but the take was relatively small. Less than $3 million.
Of course, they broke the law on this type of shorting, as they used insider/non-public info from an underwriter who tipped them off that there would be an upcoming offering set below the current market price. The group shorted the stock, then used the tipster to buy the shares post-offering they used to cover the short position as a way to compensate them for the tip through brokerage commissions.
This is a very different type of shorting than Hindenburg did. What this group did was criminal. Hindenburg was legal.
https://www.sec.gov/newsroom/press-releases/2025-12
Yup, and that is another reason why I don't think the deal is quite what it appears to be on the surface. Certainly if he hasn't been making that much money from Hindenburg due to the original structure, he definitely would have been thinking about changing it up for quite some time. This would also dovetail with his claim of winding up only after all the research ideas they have been working on have played out - there might be some non-competes in the structure that would prohibit him from taking any ideas generated and researched by Hindenburg to any new vehicle, so he had to wait until they were all complete before he could jump ship.
I agree. It was very jumbled and a little rambling.....
But I look at it this way. On the long side, investment vehicles (funds, LLC's, partnerships) open and close all the time. I don't know how Hindenburg was structured, not only from a legal standpoint, but in terms of investment and profit distributions and percentages. But, I doubt it is very much different than we see in other investment vehicles.
There is no doubt that Anderson and Hindenburg have proven themselves to be very skilled at what they do. Anderson was not a known, or even proven, name in the short business when he started. His letter admits as such. He was also broke. For those reasons, he almost certainly needed deeper pocketed outside investors to bankroll his short bets. His percentage of the take was probably pretty low for quite some time, perhaps even now.
By disbanding Hindenburg, he may be just jettisoning the legal vehicle in which he receives a small percentage of the profits for new vehicles in which he will get a much bigger piece of the pie utilizing his larger pile of personal capital he accumulated with Hindenburg.
I am skeptical about what Hindenburg is doing and if they are gone for good.
I would bet that it is more of a restructuring. Anderson is probably tired of being the target of all the ire (and lawsuits). He may be handing off the day-to-day running and responsibility to his collogues who will set up new firms that might have him as an investor or silent partner, but will have a different legal structure and a different person at the helm to be targeted by angry subjects.
I also doubt that Anderson is very rich from Hindenburg. I bet he is quite well off, but probably not very rich as the way he described his accent is not one that likely made him personally a ton of money in so short of time. He simply would not have had the capital to do that for the majority of the time running Hindenburg. Instead, he may be disbanding Hindenburg because he wants to be very rich, and creating new vehicles that may give him more of the action personally now that he does have a bigger pile of capital to deploy may be the way to do it.
That is no surprise. He clearly violated not one, but two reporting regulations. And not by a little. A LOT.
The SEC is claiming it cost investors $150 million. I can see that as accurate.
They slipped the suit in right under the wire before the Commission changes over. I wonder how he will react and what he and the new Administration will do.
It is a sub-penny, effectively insolvent Canadian junior explorer. It is damn lucky that it is trading as much as it is. Canadian junior investors are much smarter than your average sub-penny US OTC "investor". They can actually read financial statements and know that they are much closer to bankruptcy and the stock being wiped out than it is to any modicum of success.
Based on their most recent financials, they are likely out of cash now. The end may be near.
Wrong again.
Why do a certain group of people ONLY think of money, and that everything that anyone does in life MUST be solely motivated by money?
Oh yeah, it is because that is how THEY think, so they automatically think everyone else is just like them, too.
This person is a complete idiot. He claims to have 18 years of OTC trading experience, but doesn't even know the most basic details of how trading works?
He claims there will be a short squeeze because the DTC info (which isn't necessary accurate or even official in any way) says there is only 7 million shares held at DTC of this 600+ million O/S stock.
Nuinsco is a CANADIAN stock, and its primary trading market is in Canada. There is a very high likelihood that many of the shares he claims to own have never been in the US, and remain in Canada. It is not an ADR that is required to deposit shares within the borders of the USA to trade them. The US trading is nothing but a placeholder. I guarantee pretty much 100% of the shares he sees traded OTC are actually transacted in Canada through jitney trading with a Canadian brokerage and then sold to a US MM who then fills the order for a US client. Every single one of those 600+ million shares is available OTC - that is how it works. So if he somehow thinks he can singlehandedly force a short squeeze by holding less than 2% of the O/S, then he is too stupid to be allowed to trade stocks, much less provide anyone with trading advice.
That is really all there is to it. The SEC hasn't made any new rule changes to 15c2-11 that would permit OTCMarkets, or any other organization, to change how stocks are traded OTC. And FINRA has not made any rule changes to their rules, either.
It is just a rebrand by OTCMarkets to freshen up their dirty image and try to convince more companies to pay them for their "services".
Oh yes, I know you know. You know better than most anyone else knows.
I was just making a point that Mexus was completely making stuff up. Nothing factual in their release whatsoever, and even most OTC novices would either already know they are lying, or find their statements to be questionable, at least. But Mexus, like a lot of cultish stocks, has a lot of stuck investors that don't bother to learn anything about the market - the truth is uncomfortable. So they just continue to wallow in their ignorance and pretend. And clearly Mexus and their CEO is hoping they are ignorant and stupid enough to feed him more cash for the impossible dream.
Unfortunately, I think many of them probably will.
It is, in a way, a new twist on the age-old recovery scam.
I thought the scamming would stop once the SEC revoked the stock, but Mexus has now found a way to keep scamming their own investors.
I wonder how many other scammers will now try this.
Yup, we all know that, but the low-grade and unknowledgeable Mexus "investors" don't. They really think that OTCMarket's name change for the Pink Market to OTCID actually means something and it will permit Mexus to "relist".
This release is clearly a grift on the part of management to get those desperate investors who have been wiped out by the revocation to fork over more money for the "relist" with the promise of a return to trading and an opportunity to sell their permanently worthless shares. It is despicable (and I am surprised some other scammers haven't tried it yet!).
This really takes scamming ignorant OTC penny players to a brand new low.
It is DEAD. But I have a feeling that this is just another grift. PT is likely using this impossible and illegal claim to pry more money out of his desperate and stupid shareholders. I am sure he is going back to them looking for money, which is likely to end up nowhere but his own pocket.
PT is a lying scammer. The falsehoods in today's release prove it...again.
This one is a doozy of a story!
Mexus Gold was revoked by the SEC on December 19th as they were at least 2 years delinquent in their filings.
https://www.sec.gov/Archives/edgar/data/1355677/999999999724004686/filename1.pdf
Today, the company is pretending like nothing happened and is claiming they will return to trading as a Pink company next month. They claim to be "voluntarily delisting" from the OTCQB (as if the OTCQB actually means something, and of course it is not a "listing" at all), as somehow that will allow them to trade as a pink without providing any public disclosure, or re-registering as they would be required to do to actually legally trade anywhere again.
It is as if Rule 15c2-11 doesn't actually exist!
I really, really, really want to know who their "legal counsel" is that gave them that "advice".
https://finance.yahoo.com/news/mexus-gold-us-signed-non-181500145.html
If an SEC revoked company could just continue to trade publicly post-revocation, then why would the SEC even bother?
No doubt in my mind this is a grift to get more money from his shareholders who are desperate, and stupid.
It is more PT Bullshit. He clearly understands nothing, as he claims Mexus will voluntarily "delist", even though they were never listed in the first place. Doesn't matter though, as FINRA, who is the actual OTC regulator, has already forcibly removed them from trading. No "delist" necessary.
Funny how Mexus would be the FIRST SEC revoked company to trade anywhere post-revocation without re-registration. Not single one of the many hundreds of other revoked companies has ever figured out how to accomplish that feat, but somehow dumbass liar PT cracked the code!
If a delinquent company could simply continue to trade post-SEC revocation, then why would the SEC even bother? And why did they change Rule 15c2-11 and immediately prohibited from trading all the other delinquent and non-reporting OTC companies that were automatically barred from trading?
Show me the SEC rule change that permits a revoked stock to resume public trading anywhere, even the gray market..
Go ahead...I can wait.
There are no new rules coming up. OTCMarkets is NOT a regulator and has ZERO regulatory or rule making authority. Instead, they are a for-profit PR company. They are just renaming the BS pink sheet markets they own, but don't run, but want people and companies to think they do so they keep paying them for their "services". It is just for show.
Nothing with Mexus will change. The stock was revoked, and is not legally permitted to trade anywhere.
Hindenburg is a for-profit enterprise. There are lots of overpriced and even downright crappy companies out there, but shorting is HARD. Tesla is a sort-of cult stock, and it would be too risky to short it due to the legion of fans, including institutions, willing to prop up the price and buy on any dip.
Hindenburg has covered Meme stocks and other artificially supported stocks in the past, and it hasn't worked out well for them. In those cases, facts do not matter. As an example, look at their article on Freedom Holdings and what the stock price did immediately after the article was released, and what it has done since. Facts don't matter.
I think there was no guarantee that Carvana was able to raise significant capital during its run ups in the stock.
As has been pointed out, including by Carvana itself, the issues raised by Hindenburg are really not new and well known in the financial community. They may very well be true, or at least somewhat true, and that may dissuade investment banks from trying to raise them additional capital through new stock sales. No one would touch it and had no interesting in buying additional shares in a secondary. Of course, that could change if the same sort of individual investors that buoyed AMC and GME were to jump on board and add Carvana to their anti-short crusade now that Hindenburg is publicly known to be against it.
One thing I know for certain.
Facts and LAWS always overcome BS spewed by uninformed and ignorant pumpers.
Mexus was revoked. BY LAW, it cannot return to trading anywhere. Including the pink sheets or gray market.
And one more time, why don't you learn what "list" means. That stupidity is why you keep losing money on garbage like Mexus.
Still wrong.
The stock has been revoked by the SEC. Legally, they do not qualify to trade anywhere due to regulatory action. The shares no longer legally exist in the public markets.
And you really should understand what OTCMarkets is saying before you quote it. It does not apply in any way to Mexus or any other revoked stock, as the LAW does not permit any public quotation of a revoked company.