US SEC, regulator of the equity markets, has banned over 15 stocks in relation to Social Media activity around those stocks. In a statement released after hours, the SEC mentioned that volatility in those stocks (mainly penny stocks) caused prices to spike. The cause of that spike was determined to be related to social media activity around the stock and not due to any material release by the companies itself.
The list of companies are below:
- Bebida Beverage Co. (OTC: BBDA)(CIK No. 0001143451)
- Blue Sphere Corporation(OTC: BLSP) (CIK No. 0001419582)
- Ehouse Global, Inc. (OTC: EHOS)(CIK No. 0001452580)Eventure Interactive, Inc.(OTC: EVTI) (CIKNo. 0001509351)
- Eyes on the Go, Inc.(OTC: AXCG) (CIK No. 0001498522)Green Energy Enterprises, Inc. (OTC: GYOG) (CIK No. 0001464685)
- Helix Wind Corp. (OTC: HLXW) (CIK No. 0001364560)International Power Group Ltd. (OTC: IPWG) (CIK No. 0001332702)
- Marani Brands, Inc. (OTC: MRIB) (CIK No. 0001312623)
- MediaTechnics Corp. (OTC: MEDT) (CIK No. 0001032405)
- Net Talk.com, Inc. (OTC: NTLK) (CIK No. 0001383825)
- Patten Energy Solutions Group, Inc. (OTC: PTTN) (CIK No.0001448763)
- PTA Holdings, Inc. (OTC: PTAH) (CIK No. 0001394327)
- Universal Apparel & TextileCompany (OTC: DKGR) (CIK No. 0001560462)
- Wisdom Homes of America, Inc. (OTC: WOFA) (CIK No. 0001281198)
At material time we are unable to confirm the names of the other 3 stocks affected.