After just over two months of continual stock promotion by what is in my opinion the sketchiest stock promoter out there, the SEC commissioners finally found enough evidence to do their job and suspend trading in Rivex Technology (OTC: RIVX). Like with prior promotions by this stock promoter (referred to as the Tier 1 or Panamanian Promoter by OTC Market Research), OTC Markets had done its job by designating the stock ‘caveat emptor’ after the close on the first day of the promotion (November 4, 2019).
SEC Suspension press release (pdf)
SEC Suspension order (pdf)
The SEC mentioned the following reasons for suspending trading in the stock:
(1) questions about the accuracy and adequacy of information in the marketplace since at least November 4, 2019, including the accuracy of information in various third-party promotional materials; and
(2) questions about recent, unusual and unexplained market activity in the company’s common stock.
RIVX should resume trading on the grey market after the open on January 24, 2020.
Disclaimer: No position in any company mentioned and no relationship with any person or entity mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.