• By The Financial District

U.S. SEC FREEZES TRADING IN 15 SECURITIES

The US securities regulator on Friday (Saturday, February 27, 2021, in Manila) suspended trading in the securities of 15 companies because of “questionable trading and social media activity,” the latest in a string of temporary trading halts amid volatile trading in so-called “meme stocks,” Reuters reported.

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The Securities and Exchange Commission (SEC) acted because none of the companies have filed any information with the regulator for over a year, it said in a statement. This is the regulator’s third and largest wave of suspensions in response to social media activity.


Retail interest in certain stocks, most notably GameStop Corp, has surged in a social media frenzy, leading to volatile trading. The SEC is continuing to review market and trading data to spot other securities to “to potential attempts to exploit investors during the recent market volatility,” the agency said on Friday.


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"The SEC's recent suspensions of trading in nearly two dozen securities – including 15 today – are one facet of our ongoing efforts to police the market and protect investors," said Melissa Hodgman, Acting Director of the SEC's Division of Enforcement.


"We monitor for suspicious trading activity tied to stock promotions on social media, and act quickly to stop that trading when appropriate to safeguard the public interest. We also remind investors to exercise caution and do their diligence before investing generally, including in companies promoted on social media."


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The suspension securities are: Bebida Beverage Co. (BBDA); Blue Sphere Corporation (BLSP); Ehouse Global Inc. (EHOS); Eventure Interactive Inc. (EVTI); Eyes on the Go Inc. (AXCG); Green Energy Enterprises Inc. (GYOG); Helix Wind Corp. (HLXW); International Power Group Ltd. (IPWG); Marani Brands Inc. (MRIB); MediaTechnics Corp. (MEDT); Net Talk.com Inc. (NTLK); Patten Energy Solutions Group Inc. (PTTN); PTA Holdings Inc. (PTAH); Universal Apparel & Textile Company (DKGR), and; Wisdom Homes of America Inc. (WOFA).


SEC also recently issued orders temporarily suspending trading in: Bangi Inc. (BNGI); Sylios Corp. (UNGS); Marathon Group Corp. (PDPR); Affinity Beverage Group Inc. (ABVG); All Grade Mining Inc. (HYII), and; SpectraScience Inc. (SCIE). Each of these orders stated that the suspensions were due at least in part to questions about whether social media accounts have been attempting to artificially increase the companies' share price.



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