SEC Suspends trading in marijuana stock WebXU $WBXU

This morning the SEC suspended trading in WebXU (WBXU), a perennial pump and dump and new hemp company. This is the eighth suspension of a marijuana-related stock this year (the most recent suspension was of FRTD). WBXU was most recently promoted by StockMarketProfessor.com on May 22nd; see quote from disclaimer:

Stockmarketprofessor.com has been compensated up to Seven-Thousand Dollars Cash via bank wire transfer by a third party (Eden Media Group, LLC) for a 1 Day Marketing Program regarding WBXU.

The first compensated pump email I received on WBXU was from Awesomepennypick.com on March 29th, 2013.

SEC suspension press release (PDF)
SEC suspension order (PDF)

 

From the SEC press release:

The Commission temporarily suspended trading in the securities of WBXU because of
questions that have been raised about the accuracy and adequacy of publicly disseminated
information concerning, among other things, the company’s finances.

 

wbxu

 

Disclaimer: I have no position in any stock mentioned above. I have 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.

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