Songbird,
Scottrade has restricted buying SPZI on the internet only, you have to call your broker to place a buy order but you can sell online w/o assistance.
I called Friday and got their standard reply; due to suspicious trading you can only buy with broker assistance. Which is their canned answer when ever they do this.
They did this to Xkem for several months and there has never been a problem with the stock, but it does slow down buying and maybe that's what they want to do?
I believe some brokerages are hyper sensitive to pinks having several press releases in a row, especially with the current rash of new haults going on, due to some pinks pumping out bogus PR's like crazy.
You may hear explanations such as conspiracy theories regarding shorts wanting to cover and Scottrade being in cahoots with NITE since Scotty's ceo is a major stockholder in nite, but I don't believe Spzi is shorted. The main trigger for the restriction IMO, was prolly just the sharp increase in volume.
I'm not worried about Scotty's restriction, it has nothing to do with SEC or anything suspicious going on with trading. And after all, they are looking out for the client's best interest right? lol. (but won't tell you specifically why they restricted trading).
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