SEC Returns from vacation, suspends trading in Centor Energy $CNTO

Yesterday the SEC suspended trading in a major hard mailer pump and dump for the first time since it suspended trading in Makism (MDDD) last December 13th. I previously blogged about the initial CNTO pump last May and I blogged about the repump on January 1st.

 

SEC trading suspension release
SEC trading suspension order

Just like with the suspensions of trading of Sovereign Lithium (SLCO) and Guar Global (GGBL)  the SEC highlighted potentially manipulative trading in the stock in addition to the standard concerns about adequacy of information about the company:

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

 

cnto

 

Disclaimer: I have no position in any stocks mentioned and no relationship with any parties mentioned above. 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.

4 thoughts on “SEC Returns from vacation, suspends trading in Centor Energy $CNTO

    1. When the stock reopens for trading in two weeks they will be able to sell for a large but not total loss. My bet is that CNTO gaps down to $0.50 to $1.00 and then slowly fades over the following months.

  1. Michael Goode,

    Have you ever heard of any company’s who have been investigated SEC and it turns out the statements in the pumper emails are verified/correct? Therefore it opens at the same price. It’s wishful thinking but I just wanna know your thoughts.

    1. No SEC investigation is completed while the stock is suspended. I have seen small gaps down or even stocks that gapped down but then bounced huge (like MDDD) but for actively traded stocks I have never seen a stock not gap down when it reopens for trading.

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