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For all those penny traders, just received this

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cintrix Member Level  Monday, 11/09/20 01:52:39 PM
Re: None
Post # of 5786 
For all those penny traders, just received this from Etrade:

Effective November 21, 2020, E*TRADE customers will no longer be able to open positions in Caveat Emptor securities due to the risks associated with trading shares in these companies. Caveat Emptor securities currently held in accounts will be set to liquidation only, meaning you may close or continue to hold existing positions but no new or additional positions may be added. E*TRADE will also prohibit deposits and transfers in of Caveat Emptor securities as of the effective date.

What is a Caveat Emptor security?
Caveat Emptor is a designation that OTC Markets Group assigns to certain securities that present particular risks to investors as a result of trading suspensions or halts, undisclosed corporate actions, or investigations of fraud or other criminal activities, among other reasons.

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