The Commission temporarily suspended trading in the securities of Placer Gold because of questions that have been raised about the accuracy and adequacy of publicly disseminated information appearing in the company websites, press releases and filings with the Commission, concerning among other things, the company’s financial condition.
The same could be said for almost any penny stock. Today the SEC also suspended SMAS, a very popular $.0001 stock. In the suspension release the SEC gave the following reason for the suspension:
The Commission temporarily suspended trading in the securities of Somatic because of questions that have been raised regarding the issuance of Somatic stock, trading in the company’s stock, and the adequacy of publicly disseminated information concerning, among other things, Somatic’s current financial condition and business operations.
It is virtually the same reason. The point here is that these stocks can get halted, suspended at any time. That is why we never hold these stocks too long.
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