Solei Systems Inc. (fka SOLI)

[Huggy Bear]

Beyond suspensions, the SEC can also initiate larger investigations into potential fraud, though it has not made any such allegations related to stocks it has already suspended.

Nearly all of the SEC's actions have focused on "microcap" stocks — commonly known as "penny stocks" because the company's shares are often worth only a few cents.

When companies are this small, Peikin says, it's easier for bad actors to quickly inflate (or "pump") the share price by luring in investors with misinformation, and then, once the price is high enough, sell (or "dump").

People might assume that the days of financial con-men cold calling gullible investors to buy penny stocks are long gone. In fact, the boiler room has simply shifted to the internet message boards.

"You don't have to rent an office and hire a bunch of people to sit in a room and make cold calls," says Peikin, "when you can reach many many more times that number of people through social media."

https://www.npr.org/sections/coronavirus-live-updates/2020/04/15/835319145/top-wall-street-regulators-warn-against-coronavirus-investment-scams

Sounds familiar.