uncleflo
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SEC suspends ‘bandwagon’ blockchain companies from trading
Saved by uncleflo on March 19th, 2018.
In light of the increasing popularity of cryptocurrencies and blockchain technology, a new trend has developed among some small publicly-traded companies in the U.S. In the past few months, several listed companies that have previously had zero ties to the blockchain or digital currencies have announced that they would move into the cryptocurrencies business in one form or another. These announcements, in turn, caused the share prices of many of these small cap stocks to rally and in some cases more than double - without any substantial evidence that the companies were actually involved in blockchain-related activities. In other words, it appears some companies have chosen to pump their share prices by jumping onto the cryptocurrency bandwagon.
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