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Absolutely. These "naked shorting" morons have ZERO evidence that it is active, rampant, or has destroyed even one company, much less the tens of thousands this cult claims is true.
All they have is the parroting call of "naked shorting, naked shorting" which gets pretty damn tiresome very quickly.
If they are so worried about naked shorting, perhaps they shouldn't buy shares in the trash they claim is being naked shorted.
I wish that would work, but I am afraid that anyone that actually believes naked shorting is everywhere and killing companies is too far gone to understand anything factual.
Do you understand the difference between actual naked short selling and the market mechanisms named in both of the stories you provided as evidence? They are not the same thing.
One more time. Give us ANY factual evidence that naked short selling exists and is a problem in the penny stock market.
No, there are plenty of logical, and factual, explanations for that trading.
Naked short selling ISN'T one of them.
If there actually was naked short selling, the transfer agent would be able to identify it almost immediately. That is where the entire argument about it falls apart.
Show us the PROOF that organized naked short selling is not only rampant, but actually actively occurring in all of these garbage/penny stocks.
You can't because there isn't any.
There isn't any large-scale naked shorting of any kind.
Show me the proof that there is. It is all complete BS used to cover up and hide the real culprits for the decline in the stock price of these shitty companies.
Funny how certain people in the legal profession have been claiming naked shorting, and filing lawsuits, for over 2 decades and not only haven't won a single case, they also haven't been able to provide one shred of factual evidence of any kind.
So, again, SHOW ME THE PROOF!
Mexus is not being delisted, since it is not LISTED on an exchange.
Instead, what is going to happen to Mexus is much, much worse.
It will be kicked to the "expert market" (the gray market) where MM's cannot make a market and display their bids and offers. All quotes will be unsolicited, and all US brokers will prohibit their clients from trading the stock. They will allow clients who own the stock to sell their existing positions (assuming they can actually find a buyer) but no new purchases.
That will pretty much kill off Mexus once and for all.
Good riddance.
RAD is next. Just filed for bankruptcy last night, and already hoards of idjiots are shouting how awesome it is and how they are gonna git rich!
They don't seem to read SEC filings too well. This is a form of prepackaged bankruptcy and the Plan is already in place. As part of the Plan,
"all Existing Equity Interests in Rite Aid will be cancelled and extinguished, and Holders of Existing Equity Interests in Rite Aid shall receive no recovery on account of such Interests".
The element of surprise is gone. At least in the other bankruptcy cases they could fool some of the ignorant idiots into thinking there was a chance the equity would survive (the part about them getting rich off of it is their own imagination). But since RAD has already announced the Plan, and that existing equity holders will not be part of it, I would at least hope the trajectory of this one might be a little different.
They can crow about NSS and MOASS all they want, but anyone dumb enough to ignore the facts in the SEC filings will lose everything they had left after those other bankruptcy disasters.
But but but, I keep hearing from so many shareholders in bankrupt companies that filing for bankruptcy is a WONDERFUL thing to do. It "preserves" their shares and stops all the naked shorting and will result in a MOASS!!!!!!!!! They are gonna git rich from the bankruptcy! Everyone is going to have a new Maserati (which is the current treat de jour for all the BBBYQ bagholders once they get their new shares - they had to cancel the old shares before they get the new ones, or so they claim).
But hey, they shouldn't fret. MULN will go bankrupt soon enough and then everyone is gonna get PAID!
BS. The claims of naked short selling are completely bogus, and are being made to distract (and fool) investors from their actual operational and financial challenges.
I suggest you review the SEC filings. If you do, you will see that the company has been a serial issuer of toxic death spiral notes since early 2022, and that dilution and dumping has dropped the stock price from $4.00 to the current $0.0007, a 99.9% loss.
That is why they call them "toxic".
They can only convert and sell if they find suckers dumb enough to buy those shares. That is why the toxic lenders hire people to pump the stock on social media and bulletin boards. I don't think the activity here trying to tell people how this is an awesome stock is any coincidence.
I am not surprised you haven't been able to contact anyone at the company. Its dead. It only survives to allow the toxic lenders the ability to make money. And rip off shareholders in the process.
No one is turning off the share faucet.
This company is now a big-time toxic death spiral convertible issuer. Once a company starts, it doesn't stop until they are dead.
That is why they are called "toxic". They ultimately kill every company that issues them.
The toxic lenders need people to buy their heavily discounted shares to make a buck. So, they hire people to wash trade the stock to show volume, and post on social media to promote the stock and talk about how cheap it is.
We have recently seen both on this stock.
Anyone that buys and hold these shares will lose 100% of their investment.
Can't stop making stuff up, can you?
That claim is as real as your claim "COWI is solvent".
Neither is true.
And this comes full circle back to NASDAQ not acting on their legally mandated compliance obligations. NASDAQ listed stocks are an easy target because they just allow obvious fraud to run rampant, which is why it is growing almost daily.
NASDAQ really needs to actually do something about the fraud on their exchange.
COWi is an insolvent pump and dump.
The toxic death spiral convertible holders are taking the opportunity to dump as much as they can on the newest doofuses willing to throw their money away.
How was Lloyd's promised spin-off in the 3rd quarter?
Repay his student loans? Why, when there is really no penalty for delinquency, and the Government will take care of it, anyway. Let someone else pay!
Pffft. Repaying student debt is sooooooo Gen X. Such a Boomer!
I wonder how much of the personal credit card charges went that ink all over his arms (and probably other places we can't see).
I often shake my head at hearing people, usually of the younger generations, that complain they are broke and can't afford food or rent, but which have thousands if not tens of thousands of dollars of elaborate and extensive tattoos. Guess we know what they really find important in life.
Something is weird. It is very odd that was posted today, as the case was originally announced 2 weeks ago. A number of media outlets picked it up then, but I didn't realize the announcement wasn't on the SEC website.
Here is a story about it from the 25th.
https://markets.businessinsider.com/news/stocks/sec-ponzi-scheme-cash-flow-king-podcast-mansion-nba-courtside-2023-9
I know the SEC was rushing to file a ton of cases before the end of the fiscal year (and the possible government shutdown), so perhaps this one just slipped through the cracks? Or, did the SEC change some of the claims between then and now?
OK genius, let me explain it to you. No one is going to prison. Too bad people can't go to prison for being stupid, if you know what I mean.
Volume in Mexus today was ZERO. I-Hub is correct.
Yahoo Finance continues to report the LAST volume recorded. The stock traded 278,590 shares YESTERDAY. Since it didn't trade a single share today, that volume was not removed from Yahoo's system. That is just how they report. Each market information system reports differently, so obviously Yahoo uses a different vendor than I-Hub does.
if you had actually done some DD and gone to Yahoo and clicked on "Historical Data", you would have quickly figured out what is going on. Hell, that would have taken you all of 2 seconds, which is much less time that it took you to write out this post implying that everyone else is wrong and someone is committing fraud because you can't read volume data.
But, then again, I can't say I am surprised you didn't bother to investigate on your own. You clearly are not a person who does any research or DD of any kind.
Yes, they should. But they don't seem to give a damn anymore. A common complaint in the industry is that FINRA is systematically squeezing all the smaller firms out of the business. Since most OTC MMs, including those that submit Form 211s, are smaller firms, it is all part of the bigger problem. FINRA won't lift a finger to help that segment of the industry. They seem to want them all gone, even though it runs contrary to the SEC's stated goal to build up the infrastructure to support the growth of smaller companies, not only through Crowdfunding and Reg A, but also through traditional funding channels, including public trading of smaller issuers. The SEC, and the SEC Commissioners, talk about these problems and constantly are seeking answers to why the problem not only persists, but is getting worse. A number of commenters tell them FINRA is a big part of the problem, but so far, the SEC has done nothing about it. At least publicly.
Glendale isn't exactly known for complying with securities laws and regulations.
I feel dirty even talking about them.
But, a lot of less ethical MM's have historically charged issuers various fees, such as for "research" or required them to hire specific outside consultants for Form 211 work. You can guess where much of those fees end up.
But technically, it isn't fees for submitting the Form 211, even though FINRA has warned a number of them that they take a dim view of those business practices, which is why so many MM's that used to regularly submit Form 211's no longer do so. Most don't want to get thrown out of the business. Glendale, on the other hand, is so damn close to going over the edge based on the regulators' past cases against them already they probably think why not and grab as much cash as they can before they are prohibited from grabbing any more.
Yes, they are. And when issuers complain to OTCMarkets and ask for help, they tell them to call around. They provide issuers with absolutely no help whatsoever.
There are damn good reasons why a lot of (US) companies are fed up with OTCMarkets. Even though Jake Noch is a grifting scammer, I bet there are a number of companies and their management that will privately, if not publicly, voice their support for his challenge to OTCMarkets' business practices.
I hope FINRA and the SEC take notice.
OTCMarkets isn't submitting Form 211's in protest of the SEC and FINRA's refusal to allow FINRA members to charge issuers for the service.
Seriously.
They were really ticked off by not being allowed to charge, and I believe at least some of the letters going back and forth between OTCMarkets and the regulators on the issue were posted here in the past.
So, they think that if they can muck up the system and enough issuers complain about it, the regulators will change their mind and let OTCMarkets bill issuers for doing it.
So you will wait for the NEXT pump and dump on this ticker by Lloyd Spencer? Great strategy. This was Lloyd's FOURTH pump and dump on this ticker. When he runs out of idiot investors willing to buy his BS, he just goes dark until he finds the next story/fantasy to entice idiots to buy.
Of course, with any pump and dump cycle, each following pump and dump has lower highs and lower lows than the previous one. So, holding "for the long term" of an insolvent company with a mountain of toxic death spiral convertible debt never pays off.
That is something else you need to learn.
Not everyone who speaks negatively about a stock is short.
Most of the time they are just people who have actual real-world experience and know how things work in the real world. And know how to read SEC filings.
So stop believing everyone who has a different opinion of you is a short seller. It just puts your ignorance on full display for all to see.
Creditors turned down and formally rejected the option of receiving shares for some or all of what they were owed MONTHS ago. That option died then, and there was never any chance of it being resurrected. That is how bankruptcy works. The claim by the idiot pumpers on social media to the contrary just demonstrated how little they understand about bankruptcy and how much all of their theories were impossible and never had any chance of success.
The shareholder list is likely only valuable to a scam company looking for suckers. Seriously.
As I said, I think Jake is a POS grifter. And because he is, any specific claim he has against OTCMarkets is likely the same, especially for that laughable amount of claimed damages.
However, the claims about OTCMarkets doing things they are not supposed to be doing as a FINRA registered B/D are, IMO, accurate. OTCMarkets is doing things, namely taking fees from issuers, that FINRA registered B/Ds are strictly prohibited from doing.
OTCMarkets approves nothing. They are not a regulator and don't actually "run" the OTC market, even though they imply, if not outright pretend, they do and essentially tell issuers that they do (thus my statement that they are "masquerading" as a regulator).
FINRA is the primary regulator for the OTC. That has never changed. Even though they hate doing it.
My god, everything you wrote is complete nonsense.
Do you realize the remaining unpaid liabilities and debt of BBBY are attached to the equity? So if someone were to pay even 1 cent for all of BBBY shares, they would immediately be saddled with the 1.5 BILLION in unpaid liabilities?
Bankruptcy is not a "get out of debt free" card.
THAT is why no one wanted BBBY shares. Not before the bankruptcy, not during the bankruptcy, and certainly no after the bankruptcy.
And what makes it even more ridiculous is that BBBY has been liquidated. All the assets are GONE. All that BBBY has left is the $1.5 billion they still owe. Not really worth anything, is it?
The stock has been cancelled and is worthless. Now and FOREVER.
All that talk is complete fantasy. The stock is worthless, and that will NEVER change.
Learn from your mistake. Learn how the markets, and bankruptcy, actually work.
You have nothing to hold. The stock has been cancelled. If this were 1970, you could get a stock certificate and hang it on your wall and remind yourself to never believe such complete BS about any other stock ever again. But, that is no longer an option. Instead, the shares will linger in your account until you decide to take the tax loss and your broker removes them, or when DTC tells the brokers then can delete all holdings and remove them from their client's accounts to save money on record keeping.
I was wondering when some penny stock was going to go this route. It was just a question of when, not if.
OTCMarket's status as a FINRA registeed Broker/Dealer always had the potential to disrupt their OTCMarket's promotion business. Because, that is what it is - promotion. They don't actually "run" anything. They are not even the largest ATS for the penny stock market!
FINRA has a prohibition of broker/dealers accepting payment from issuers for services, but that is exactly what OTCMarkets does with every single fee that OTCMarket's charges companies. Why FINRA has decided to look the other way when it comes to the OTCLink fees and the payments for their various "markets" is astonishing to me. They also continue to masquerade and essentially market themselves to potential and current clients as a regulator and/or SRO, which they aren't (which Noch touches on with the market tags). FINRA's rules are there for a reason.
I can't stand Jake Noch. The release also doesn't go into details of what specific action by OTCMarkets caused his massive damages (if any). However, I think the points highlighted in the release regarding OTCMarkets' position and activities is accurate. By FINRA rules, they really are not supposed to be doing what they are doing. I hope this leads to FINRA actually examining this situation and either enforcing their regulations as an SRO or changing them for everyone, not just OTCMarkets.
BBBYQ's share cancelation is on today's OTC Daily List. FINRA was on time for this one.
So, what are all the social media APES who claimed "they won" all weekend, that stock trading would continue and the merger would be announced, are going to say now? No doubt they will continue to push the false narrative, but they will have to modify their fantasy.
The WSJ article is behind the paywall, but here is a link to a free version.
https://www.msn.com/en-us/money/other/bed-bath-beyond-shares-have-finally-been-extinguished/ar-AA1hsOFw#image=1
The Journal article does a good job not only debunking the "shares still have value" BS, but also how these ignorant individual investors were badly used by BBBY to buy shares in their offering where it was 99.99% sure the company was going bankrupt and those shares would quickly become worthless.
All the warnings were in the prospectus and the SEC filings. But if people don't read the filings, or don't believe the filings and instead listen to grifting know-nothings on the internet, they have no one to blame for their losses but themselves.
8-K and filings over the weekend? You really are a noob amateur, aren't you.
EDGAR is not open on the weekend, so NO company will ever have a SEC filing over the weekend. Not that it matters for BBBYQ. The next filing will be a Form 15 to terminate the registration. Just a formality, as the stock has already been cancelled.
No, that is wrong. Cancelled is correct. Just because you don't understand finance and bankruptcy law doesn't mean you get to make up your own BS and claim it to be right. The claim about "deleted" vs. "Cancelled" has no factual basis of any kind.
The stock is cancelled. The ticker will be deleted by FINRA. The value is ZERO. Permanently. Nothing will change on Monday, or on Tuesday, or Wednesday, or any other day to infinity. It is over.
I wonder what NASDAQ is going to do about this? They SHOULD halt the stock for clarification and not allow it to resume until they get it. They absolutely have the power to do that, but compared to most every other Exchange around the world, they so rarely use it, which is why the people behind these sketchy companies pull this crap on NASDAQ because they know they can get away with it and get rich in the process.
I can't say NASDAQ is quite an embarrassment just yet, but they are well on that road. They really need to step up and use their enforcement powers which is what separates Exchanges from Over-the-counter markets.
BBBYQ is dead. The Plan has been filed with the Court and is now effective. To the Company's credit, they also filed an 8-K concurrent with the court filing confirming the stock has been cancelled, there is no value, and never will be any value.
"s a result of the Confirmed Plan becoming effective, all of the Company’s equity interests, consisting of outstanding shares of common stock and Series A Convertible Preferred Stock of the Company and related rights to receive or purchase shares of common stock, were cancelled on the Effective Date without consideration and have no value.
No shares of the Company’s common stock or Series A Convertible Preferred Stock will be reserved for future issuance in respect of claims and interests filed and allowed under the Confirmed Plan or pursuant to the exercise of any rights, options or other obligations of the Company to issue its common stock and/or Series A Convertible Preferred Stock."
https://www.sec.gov/ix?doc=/Archives/edgar/data/886158/000119312523247428/d579010d8k.htm
Its over. The Plan has been filed with the Court and it is now effective. The shares have been cancelled.
100% loss for anyone foolish enough to still be holding shares.
Should hit the Daily List for ticker deletion at any time.
Today is the expected final trading day for BBBYQ. As expected, a lot of the pumpers and stuck longs are now claiming that "cancellation" and "deletion" are not the same thing, and the stock being cancelled is a GOOD THING for shareholders.
Uh huh.
I also see that two of the biggest pumpers, including one that actually was allowed to speak at the Plan confirmation hearing (and had no idea what he was talking about and essentially got a pat on the head and told to go home by the Judge) have filed an appeal of the Plan's confirmation with the US District Court. Yeah, good luck with that. They have no legal basis for an appeal, and "I don't like the Plan because I am stupid and thought I would get rich" isn't gonna work. Especially when they are acting Pro Se as their own attorney. Just a few hundred dollars more flushed down the crapper.
How is the promised distribution of the spinoff shares coming along here in the 3rd quarter?
Or has Lloyd gone dark again, just like he did in the first THREE pump and dumps of this ticker?
Costco is experiencing rush on one ounce GOLD BARS selling for 'bargain' price of $1,949 each that are disappearing from shelves within hours of being restocked
A new gold rush has hit popular bargain store Costco
The retailer has rolled out two gold bars in the region of $1950 per oz
Costco CFO said Tuesday the bars are 'typically gone within a few hours'
https://www.dailymail.co.uk/news/article-12568097/Costco-one-ounce-GOLD-BAR-rush.html
Fanatical Costco customers have been sent scrambling in recent weeks after a surprising product became a best seller - gold bars.
The brand is known for its out-of-the box range of bargain items, from titanic tubs of Nutella to caviar and saunas.
Now, in a surprising turn, a range of gold bars available online has seen customers clambering to get their hands on one of the nuggets - with two options weighing just 1 oz and costing in the region of $1,950.
The gold rush came as Costco pleased investors with promising quarterly returns this week.
On the earnings call Tuesday CFO Richard Galanti confessed: 'I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars.'
'Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member,' he added.
While the bars appear to be only online in America, TikTok creators have revealed that Costco locations in Korea have the items on shelves - with images showing some going for up to $79,000.
The race to land one of Costco's gold bars has been bolstered by the raw materials' intrinsic value in the economy, seen by many as a long-term investment that can survive economic dips.
Amid a dwindling economy, banks have upped their supplies of gold as they hedge their bets against inflation.
According to GoldHub, resilient jewelry demand and healthy investment has led to a 'supportive environment for gold prices.'
Costco has seemingly seized this moment, rolling out two 24-karat varieties of gold bars from Rand Refinery, for $1,949, and PAMP Suisse, for $1,979.
Both bars are reportedly valued slightly more than gold futures, which on Wednesday sat at $1,890.70 per oz.
The items are, as Galanti noted, limited to two per customer, and it's easy to see why given the fervent search for them online.
In one dedicated Reddit threat, frustrated gold seekers shared their dismay at how quickly the gold bars are being snatched up.
'Saw it for the first-time last night while in bed and missed it by the time I woke up in the morning,' one person said. By the sounds of it, they missed out by quite a bit.
While the gold bars have sent Costco customers wild, one person who may not need any more is New Jersey Senator Bob Menendez, who was indicted this month on bribery allegations after investigators found over $100,000 of gold bars in his home. He denies the charges against him.
Many also seem to believe that Costco restocks the gold bars at random every few months, leading to a mad dash to secure one.
One person who managed to get their hands on the gold bars shared her thoughts on the items on TikTok, claiming they were 'heavier than I thought.'
She said she originally looked for some new gold jewelry, but was stunned to see that after she 'typed in gold - it brought up gold bars!'
The TikToker, who goes by @midlifecrisisgirl online, proudly showed off her new purchases as she admitted the two bars cost her almost $4,000.
'I never liked this yellow on me, but now that I see it maybe I need to start rocking 24-karats,' she joked, holding them up to her ear like earrings.
Costco's move to cash in on gold comes as one of the brands executives revealed the company is fighting rising retail theft.
Shoplifting has soared in recent years, causing several major businesses including Target to close locations across America due to unfettered thefts.
But during Costco's quarterly earnings call on Tuesday, the same call where Galanti remarked on the gold bar sales, he said the brand was surviving the crisis.
'Thankfully, it's not a big issue for us,' he told shareholders, at a time when competitor CVS has also announced it will close 900 stores by the end of 2024 due to rampant shoplifting.