Replies to post #13346 on Avid Bioservices Inc (CDMO)

[braingraft]

Here's what TD Ameritrade says as of a few minutes ago.....
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Mr. XXXX
We've currently restricted certain securities from being traded online, including the one you're asking about. You can still buy it over the phone with a broker, at the lower online commission rate (because we're not going to have you pay extra for something we're asking you to do).

I can not go in to detail as to why trading on PPHM is restricted; however, I can assure you that we strongly believe it's in the best interests of our clients and our firm to restrict trading on PPHM. In the ordinary course of the many systems and processes we implement to protect client assets we regularly monitor trading patterns to identify questionable or possible illegal activity. And as similarly seen in many other firms, certain securities, particularly in Pinks and Bulletin Boards, are more vulnerable than others to a manipulative type of activity. In some cases, we have found that brokerage accounts are illegally accessed and unauthorized trades are placed in specific securities from within those accounts.

It is not the choice of the company issuing the stock, and it is not something regulators are asking us to do. Rather than wait as authorities are investigating the situation, we're taking steps that allow you to keep trading-but help ensure that you can do so safely. That's why we're asking you to call and verify your identity and intent. We're doing this to help protect your assets, the integrity of the markets, all our clients, and online trading generally.

There is no definite time frame for the removal of this restriction.

Thank you,

XXXX X.
Nadir Client Services, TD AMERITRADE
Division of TD AMERITRADE, Inc.