SEC Suspends trading in perennial pump Geo Finance Corp $GEFI

Three days ago the SEC suspended trading in Geo Finance Corp (GEFI). This stock has been pumped and dumped numerous times, most recently on December 9th to 11th by EpicStockPicks.com, StockoftheWeek.net, UnitedPenniesofAmerica.com, Pennypicks.net, DamnGoodPennyPicks.com, ImpressivePennystocks.com, TodaysPennyStocks.com and BeatPennyStocks.com.

See SEC suspension notice for GEFI (PDF)

The reason for the suspension was the usual boilerplate about innacurate information and potentially manipulative activity:

The Commission temporarily suspended trading in the securities of GEFI because of concerns regarding the accuracy and adequacy of information in the marketplace and potentially manipulative activity related to GEFI common stock.

The Commission acknowledges the assistance of FINRA in this matter

 

 

Continuing a recent trend of increased activity by FINRA, the SEC acknowledged FINRA’s assistance (above).

Coinciding with the recent pump the company put out two press releases on December 9th, which likely also played a part in the suspension:

GEFI

 

Disclaimer: I have no position in any stock mentioned. 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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