U.S. SEC suspends trading in 15 securities due to ‘questionable’ social media activity


© Reuters. FILE PHOTO: The U.S. and Exchange Commission logo adorns an office door

WASHINGTON (Reuters) – The U.S. securities regulator on Friday suspended 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.”

The Securities and Exchange Commission 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.

interest in certain stocks, most notably GameStop Corp (NYSE:GME), has surged in a social media frenzy, leading to volatile trading.

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The SEC is continuing to review and trading data to spot other securities to “to potential attempts to exploit during the recent market ,” the agency said on Friday.

For a full list of the suspensions announced on Friday, go here: https://www.sec.gov/news/press-release/2021-35.

Source: Investing.com


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