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$400,000,000 market cap of the stock but company has no assets other than cash and no revenues making it fall under the definition of a shell. Why are people buying this stock? How does it trade heavy volume each day after the ticker symbol change and 2:1 forward stock split?
What is the date of record? It is silent on it.
It looks like the chart is leveling off at this price level
Sorry. I’ve never heard of that company.
How is Wallacebeth Capital’s track record on its IPO’s?
Be careful. Sounds not so good from your comments.
I should’ve bought the calls yesterday. Ouch.
The $.50 calls appear cheap to buy. This could go higher and they’ll be worth something.
Why is stock up so much on heavy volume?
Today’s press release has a few land mines in it by raising lots of questions.
Still climbing on the charts.
Liquid day.
It is impossible to have negative revenue. There is no such thing as negative revenue.
Does anyone have the news article?
I went to that link but it is only a dark screen. What does it say?
I didn’t see it. Where?
Still climbing.
They mention they had negative revenue for the last six months. I’ve never heard of that.
This could do well depending on the financials. I pick bad ones too. Lol.
The Edgar filing system at SEC shouts down daily at 5:30 I believe so the 4:30 filing sounds correct.
Stair climbing on the chart.
Interesting
I’ll be looking for them. Thanks for the heads up.
Interesting
Going back up?
They identify as law abiding citizens. Lol.
We have already had two consecutive quarters of negative growth, so I don’t know why they’re not labeling it as a recession. I think they mean this coming depression.
Good point
I just finished reading the link you sent to me. Thank you! She’s a very smart woman who really has a great knowledge and understanding of securities laws and she explains things like a slow person like myself can understand and relate to. Her analogy to the use of chickens is truly a good communication tool that adds humor to what can be a boring topic to some. I like how she expounded on the risks to spac retail investors. A lot of people in the spac industry complain of the SEC describing the risk to retail spac investors. These set of people did not hear the full story like she describes. She explains that there is risk to retail spac investors in that they are not sophisticated enough to understand the risks and are not in tune enough to know when to redeem and investors accordingly miss the opportunity to redeem in the case of junky type mergers. She gave me a bridge that was previously lacking from what others complain about but now I can see that she (the SEC) is right.
Thank you, Janice, for leading me towards her. I can see she is well liked by both political parties which is an oddity today and that she has a lot of guts by speaking up publicly about crypto frauds. She tells it the way it really is without holding back.
Per Wikipedia:
“On May 25, 2022, Peirce stated that the United States had "dropped the regulatory ball" with respect to cryptocurrency regulation.
In June 2022, Peirce argued in her capacity as a Commissioner at the U.S. Securities and Exchange Commission that "it is time for the Commission to stop denying categorically spot crypto exchange-traded products."”
I haven’t read what you’re asking about.
This one is dropping like a knife. Junk.
Loss of 95% of spac holders initial investment if they were stupid enough to hold onto it.
Chinese deal. Does anyone know if business operations is legitimate or not??? Stock trades as though it’s not.
The SEC uses the Howey Test for crypto and another, even worse problem, the NFT’s, to determine if they are a security or not.
“Promoters are marketing and the investing public is buying most of these tokens, touting or anticipating profits based on the efforts of others,” Gensler said in a Sept. 8 statement.
If a transaction is found to be an investment contract, then it’s considered a security. Then, US securities laws would apply. Caveat emptor to all those crypto and NFT operators and promoters breaking the laws. Your time has come. Get ready.
Agree. The government is picking up some steam which is what I have been waiting for them to do so.
https://www.justice.gov/usao-sdny/pr/three-charged-first-ever-cryptocurrency-insider-trading-tipping-scheme
Any idiot could have seen that crypto is a house of cards. The gov’t should have been more proactive in enforcement and regulations before investors threw billions of dollars into the crypto industry. It truly is the Wild West. Celebrities were paid large sums to tout and pump buying into cryptos. Kardashian is under investigation for this but so many more were involved apparently. Most of the crypto’s have no real business of using their coins anywhere unlike Bitcoin which is becoming more useful in society with their own atm machines etc. Watch the US government soon make these cryptos illegal and they will use their own crypto machine that is better monitored and more truthful.