The SEC has always been charged with regulating th
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Posted On: 05/01/2018 10:55:49 AM
The SEC has always been charged with regulating these things.
They always go after low-hanging fruit -- small traders, or people like Martha Stewart who made very small profits -- rather than going after scum like the people who are making fortunes by attacking small companies and manipulating stock prices of big ones.
Just look at the disgraceful AXON affair. That thing had an IPO for way more than two BILLION dollars, when their intellectual property consisted of one previously-failed Alzheimer's drug that had been abandoned by Big Pharma, and purchased by AXON for $5 Million. Now it has lost well over 90% of its value, because the drug predictably failed in its clinical trial.
AXON was pushed by big names on Wall Street, including Cramer and Feuerstein who urged small investors to "buy buy buy."
Then, the insiders had an unusually short lock-up period. They were permitted to sell their stock after only 90 days. The usual lock-up period is a year, and 6 months is considered a short lock-up. They KNEW that they needed to take their huge profits ASAP, so the lock-up was only 90 days. And, what a coincidence, right before the lock-up ended, the stock went up so that they could sell at a high.
SEC investigation? nope. Too busy looking for small traders to sanction, or the next Martha Stewart-type case, worrying about possible inside information resulting in a $200,000 profit, instead of a scam like AXON that stole billions from small investors and pension funds.
They always go after low-hanging fruit -- small traders, or people like Martha Stewart who made very small profits -- rather than going after scum like the people who are making fortunes by attacking small companies and manipulating stock prices of big ones.
Just look at the disgraceful AXON affair. That thing had an IPO for way more than two BILLION dollars, when their intellectual property consisted of one previously-failed Alzheimer's drug that had been abandoned by Big Pharma, and purchased by AXON for $5 Million. Now it has lost well over 90% of its value, because the drug predictably failed in its clinical trial.
AXON was pushed by big names on Wall Street, including Cramer and Feuerstein who urged small investors to "buy buy buy."
Then, the insiders had an unusually short lock-up period. They were permitted to sell their stock after only 90 days. The usual lock-up period is a year, and 6 months is considered a short lock-up. They KNEW that they needed to take their huge profits ASAP, so the lock-up was only 90 days. And, what a coincidence, right before the lock-up ended, the stock went up so that they could sell at a high.
SEC investigation? nope. Too busy looking for small traders to sanction, or the next Martha Stewart-type case, worrying about possible inside information resulting in a $200,000 profit, instead of a scam like AXON that stole billions from small investors and pension funds.
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