MM's NAIB and EBET appear to be MANIPULATING SHORTERS...
and have been reported by a number of shareholders to NASD and SEC for VIOLATING basic Market Making Rules on their own behalf or that of their clients, the usual large shorting groups...
google.com
"Most individual investors cannot -legally- short bulletin board stocks in the US. There are several reasons why, but for this discussion I think it is enough to say it really is not done. If anyone doesn't know why, ask your broker or drop me a line and I will explain it further. Although individual investors cannot short these stocks, market makers can. Market makers can go short on any stock as long as it is related to "bona fide market making activity" (Rule 3350). Naturally, the key is the term "bona fide". The NASD manual clearly states that market makers should not go short a security simply for speculative purposes. However, there are several market makers widely known to do almost nothing but short stocks for their own account.
NASD rules make it extremely easy for a market maker to begin making a market in any stock very quickly, so these particular MM's often show up suddenly in many hot, high-flying OTC stocks. When they do, it is a pretty good indication that they stock price will soon be under pressure and it is a good time to take a hike. Besides the fact that market makers are professionals and some do a efficient job identifying overpriced stocks, they also have very deep pockets. Considering the average OTCBB stock has a tiny market capitalization, it doesn't take much to help nudge a stock one way or the other."
I see NAIB and EBET taking turns at controlling SEVU's bid, for instance and being for weeks on end on the "offer", several points lower than the next offer, indicating a clear desire to pressure the stock down, certainly NOT what a genuine seller would do...
Day after day, a majority of trades happen on the offer or close to it, but the stock continues to head down due to the manipulation... In addition, the MM's rarely show up on the bid, only to match the bid of a major player, knowing full well that they're unlikely to get a call, or on the inside bid... They don't want to trade fairly, JUST SELL ALL they can get away with...
I encourage all shareholders to report this blatant stock manipulation to NASD and SEC, as VIOLATIONS of Rule 3350 stipulating that a MM can short only to maintain an orderly market, NOT to MANIPULATE a stock to ENRICH themselves at the expenses of the shareholders... Request a full enquiry of all their SEVU trades for the past month and the names of the Shorters behind this illegal scheme...
sec.gov
nasdr.com
DATA on EBET and NAIB, both from Fort Lauderdale:
EBET: EMERSON BENNETT & ASSOCIATES, INC. FORT LAUDERDALE FL 954-776-6118
NAIB: NORTH AMERICAN INSTITUTIONAL BROKERS FORT LAUDERDALE FL 954-938-8500
JMHO, F. Goelo + + + |
