Unfortunately, if you want to play in the ocean, you have to swim with sharks. I’ve discussed this same pattern here before that many others have probably noticed over the years. I have no doubt that Les “shops the deals,” and the word gets out. I think we can see what happens with that knowledge. And the trading pattern of the last couple of days also seemed to reflect knowledge that some sort of news was pending. It certainly isn’t a level playing field for market knowledge, or even deal making, for retail investors.
I’m sure it’s frustrating to Northwest Bio, as it is to all of us, but hopefully some of the funds behind this manipulative trading might be revealed during discovery if the court allows the case against the market makers to go forward. I think some of these funds act with impunity, because they’ve never really been held to account. Unfortunately, I suspect that some market makers may not be entirely forthcoming in the discovery process as we have seen in the Harrington Global case.
The US stock market (and the OTC in particular) is a cesspool hidden behind a thin veil of legitimacy; it’s rigged by sophisticated criminals, and “overseen” by an understaffed and compromised SEC and DOJ. And after the Gamestock fiasco, it was clear that our “blind” Congress unfortunately seems more interested in maintaining the stability of the precarious “financial system” than actually providing any teeth to the watchdogs.
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