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Saturday, December 19, 2020 9:35:02 AM
Here is an excerpt from the Schwab email.
By the end of January, any positions held that are impacted by the Caveat Emptor designation will be set to liquidating transactions only and no opening transactions will be allowed for these securities. Any existing opening orders will be canceled but you may close out any open positions or continue to hold. You will not be allowed to add any new positions in these securities unless the Caveat Emptor designation is removed by OTC Markets Group.
Not only is DECN being sued by the Securities & Exchange Commission (SEC) and Keith Berman being prosecuted by the U.S. Justice Department (DOJ), but now we can add Schwab to the growing list of large brokers, who will not allow customers to purchase DECN stock.
Interestingly, it appears the above listed brokers will only sell a Caveat Emptor security if/when said broker can find a different broker that allows buying a Caveat Emptor stock. Removing Schwab, E*Trade, TD Ameritrade, and Fidelity from the "potential buyer mix" certainly limits where sellers can actually find a buyer. It could get tough to bail-out of DECN without getting big-time whacked from a pricing perspective! Since DECN trades via the Grey Sheets, the few potential buyers will hold all the pricing leverage!
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