Replies to post #37418 on Reliance Global Group Inc (RELI)

[MTLTrader]

Again, they did nothing illegal, neither wrong. If you ve been mislead, it is not by the company!
Think about it: insiders lost 80% of their money too, but they know it will go back up!
Do you think RELI wanted to screw them too? of course not!
Nothing changed for the company, except that now we are on Nasdaq

[BullMarket34]

That’s very well put. I agree. We need to stop blaming the company for this. If we had just split from .07 no one would be up in arms. The fact that we ran so high prior to the split is unfortunate, but it is what it is. Time to move on.

[Lhotse]

Write to your Representatives, this needs to be investigated. We deserve nothing short of a full investigation. If there is a class action lawsuit, it needs to be against the SEC, the NASDAQ and our government, not RELI. A lot of innocent people lost 80-90% of their hard earned dollars as a result of the NASDAQ listing RELI on their website prior to RELI going live and trading on their exchange. Regulatory agencies such as the SEC are created to protect our interests and they failed miserably. This should never be allowed to happen ever, ever again. A lot of money will be made based on the events that took place and once again, it is ordinary, everyday Americans getting the short end of the stick.

[BenK]

"Looking back on this RELI should never have been listed on NASDAQs website prior to the uplist being completed. Listing RELI on the NASDAQ website is a very credible, newsworthy event and is the primary reason for the run-up on Friday."

OK, I'm going to break my resolution (just this once) and back up what lhotse just wrote, and provide a little more background, based on some DD.

If you all recall, last Friday someone posted an "uplist" notice from the NASDAQ site, that RELI is uplisted.

There was a "delisted" notice posted a few minutes later, which seemed very strange. Someone here on the board questioned that contradiction, but it was too late.

That notification triggered an avalanche of buying - we're on the NAS! And Friday and Monday were amazing to watch and to experience.

Well, when the frenzy settled down, I remembered the "unlisted" notice, and did a little checking around.

It turns out that that was a mistake on the part of NASDAQ. That notice was supposed to be made public on Tuesday, but someone clicked too early, and it went up for a short time on Friday. Then they realized the error, and it went back down ("delisted). Until Tuesday.

As the saying goes, "To err is human. To really mess things up, you need a computer."

RELI had nothing to do with that false news, they have no control over what NASDAQ posts.

But once the horse was out of the barn, it was too late. And it will take time to get back where we thought we were... but IMO we will get there.

Back to my hiatus.