SEC Suspends trading in Nevada Gold Corp $NVGC

Another day, another trading suspension of a big stock promotion. This time the ‘victim’ is Nevada Gold Corporation (NVGC). NVGC has been promoted by illegal spam emails from “StockCastle”. This trading suspension comes just two days after the previous trading suspension of a major active stock promotion, Life Stem Genetics.

Here is a chart of NVGC: nvgc

George Sharp had also found a hard mailer promoting NVGC.

NVGC will reopen for trading on the grey sheets on December 12th.

From the trading suspension release:

The Commission temporarily suspended trading in the securities of NVGC because of questions
regarding the accuracy and adequacy of assertions by NVGC, and by others, to investors in press
releases and promotional material concerning, among other things, the company’s assets,
operations, and financial condition

 

SEC trading suspension release (pdf)
SEC trading suspension order (pdf)

 

Disclaimer: I am short 15,000 shares of NVGC at Interactive Brokers and I am long 10,000 shares at Speedtrader. I intend to exit those positions soon after the stock reopens for trading. I have no position in any other stock mentioned. I have no relationship with any parties mentioned above, other than that I am friendly with the author of the negative SeekingAlpha article on LIFS. 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.

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