Replies to post #65889 on 8000 Incorporated (EIGH)

[lymmas]

Did you call IB and ask them what it means?

[Kramrer]

IB?? Interactive Brokers??

[overachiever]

Oh oh. That is a sign this stock is headed for a big problem. When the online brokers start restricting them it usually indicates the Feds are hot on the scam and are investigating the trading of the issue for wash trading, issuance of unregistered securities, phony legal opinion letters, etc. "Closing trades only" restrictions are often implemented in response to SEC or DOJ inquiries into the stocks

Hi Guys, had EIGH under my radar for some time and decided to take the plunge today but can't buy any for some reason, it says 'This contract can only be closed' (I'm on IB).
Any idea why?