SEC Suspends trading in Joymain International $JIDG

 

Joymain International (JIDG) had its trading suspended by the SEC on June 15th, 2015. The stock had been on an an incredible run and had achieved an insane $6 billion+ market capitalization. JIDG will reopen for trading on the grey market at the market open on June 29th, 2015.

SEC Trading suspension release (PDF)
SEC Trading suspension order (PDF)

 

jidgThe reason given for the suspension:

The Commission temporarily suspended trading in the securities of JIDG because of recent, unusual and unexplained market activity raising concerns regarding the adequacy and accuracy of publicly-available information, including information concerning Joymain’s financial condition and scope of operations.

The Commission acknowledges the assistance of FINRA in this matter.

Antoine Gara wrote about JIDG a week ago for Forbes.

Disclaimer: I have no position in JIDG. 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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