There's a wide variety of players behind the scenes involved in pink scams scup not just the CEO's. In fact over half the pink CEO's out there have no clue what they're even getting involved with when they take over stinky pinky shells after they've been pitched by some slick talkin' shell guys k.
So although I believe there's far more to all the ongoing penson changes than meets the eye(and is an entire story for another day in and of itself)...because of all their new policies - it's going to continue making it harder and harder for players to trade subbies...and continue to make it harder and harder for sub dime penny co's to find funders...because the very nature of penny co's growth endeavors is to utilize discount share funding which penson clearing(which 40% of brokerage firms use) is making it harder and harder to do.
And the reason I said many subbies will soon be forced to initiate reverse splits is so that they can get their share prices above a dime so as to be compliant with pensons new dime threshold share price to clear shares.
Without being able to clear shares at their penson clearing firm brokerages some funders will not lend co's money regardless of the discounts being offered...and if the liquidity begins drying up in sub-penny plays even more-so than it already has this summer due to pensons new retail rules tomorrow...we're all soon going to see penny stocks that only trade above a penny or above a dime...and the end of the subbie market as we used to know it.
Not due to scamming pink CEO's necessarily but due to Penson being the 1st clearing firm out there enacting all the changes being a prelude to the rest of the clearing firms soon following suit.
There's tons and tons wrong with the penny casino...but eventually the penny gamblers that survive long enough playing pennies figure out the inherent associated risks.
There's fraud in the subbies, pennies and big board markets across the board across the planet...the subby-penny casino just bears the brunt of the bad publicity because it's the easiest to kick around.
But believe me...where there's money to be made there will always be players out there making it...whether they're hedgies, insiders, pipe funders, shell guys, analysts, clearing firms, brokers, promoters, ceo's, 504 guys, shorts, longs, traders etc etc etc...the list really does go on and on and on. The prob with the markets across the planet is they're run by influence and any entity or entities with the power to move the markets to make a buck does it...it's just impossible to curb the corruptness because the markets are built on buyers and sellers and the constant ebb and flow of all the ingredients that creates them glty
"Never buy or sell based on anything I post - my posts are just my opinion"
"I like ridin' lightnin' - rely on no-ones due but your own"
