Yes they can, and do, all the time. Unfortunately, sometimes it takes learning a "lesson" like that for people to realize just how volatile this market is.
I can't tell you how many times over the years I have seen posts from people expecting the same kind of results from pinky or penny stocks like you see on bigger boards. The regulation just simply isn't there. That SUCKS, but it is a reality. That is why there is such a strong need for MAJOR reform within the SEC. IMO everyone working there should be shit canned and they should revamp the entire system and process. It is simply amazing how lax they are with regulation. Trading stocks isn't very far removed from the type of experience we all enjoy with our banks. We expect to be protected and we are protected. Those same rigid guidelines should be in place in all areas of the stock market also but they aren't. You can't have a system where rules apply in some areas but not in others. That creates a breakdown that will be exploited to the enth degree and we see that happen FAR to often.
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