Mind Medicine (MindMed) Inc (MNMD)

[Thinman13]

The $5.00 rule only applies to OTC stocks. MNMD is no longer OTC, hence is now marginable (shortable)

"With the exception of stocks that are traded on the over-the-counter market, neither FINRA nor the government's Regulation T specify a minimum share price for a security to be eligible to be purchased on margin. They do require that investors have at least $2,000 of equity in their account, though. The regulations also require that investors initially deposit at least half of the money needed to buy the stock and that they maintain an equity position of at least 25 percent in their account at all times."

"Securities that are traded on the over-the-counter market are regulated differently. Section 220.11 of Regulation T specifies that OTC stocks must have an average bid price of $5 per share to be eligible to be added to the list of stocks that can be bought on margin. To remain on the list of eligible stocks, their price must remain at or above $2 per share."

Excerpted from: https://finance.zacks.com/margin-equity-1379.html