Shouldn't be legal. The proper authorities are aware of this I believe so hopefully something is done and they make an example of it too. I keep seeing the term "no bid" as you mentioned. Is it like it sounds? There is no price shown for the bid therefore one cannot sell at all? Last year when I started trading I had a stock go south and I thought to average down and did. It actually worked and I came ahead a couple bucks. But hat company is not in the same situation as SEVA here. Anyway you have made me think twice about trying with my SEVA shares. Hmmm... A tangled web..
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