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Penny stock Reddit thread cracks down on shills as users surge

Penny stock Reddit thread cracks down on shills as users surge Sarah Ponczek, Bloomberg News BC-Penny-Stock-Reddit-Thread-Cracks-Down-on-Shills-as-Users-Surge , via Bloomberg The explosion in penny stock trading has been so abrupt that a Reddit thread devoted to it has been forced to update regulations to curb user shilling. “THE RULES HAVE BEEN UPDATED! TAKE NOTE!,” blared a post in r/pennystocks Wednesday night. Among the tweaks were changes to the type of content permitted in the thread and the official banning of cryptocurrency-related chatter. Social media platforms and websites such as Reddit have become must-reads for the Wall Street stock set these days. A forum called r/wallstreetbets, which boasts 1.9 million users, has shown an astonishing ability to move prices. In less than a year, 1 million new users have joined. Now, with penny stocks surging last month, more than 1 trillion shares of tiny,

Market newbies discover penny stocks, and 1 trillion shares get traded

Market newbies discover penny stocks, and 1 trillion shares get traded We’re sorry, this service is currently unavailable. Please try again later. Dismiss By Sarah Ponczek and Elena Popina January 15, 2021 1.28pm Normal text size Advertisement In New York, there s Broadway, off Broadway, and off-off Broadway. A similar hierarchy exists in the modern equity market, and it s in the third category of way-off-exchange trading where today s retail speculator is really going to work. While there have been many examples of trading volume explosions in low-priced NYSE and Nasdaq stocks in the last few months, a whole other ecosystem of speculation exists outside the regulatory reach of these venues and it s been booming. Out past the broker-operated venues where Robinhood trades get executed, it s lightly regulated quotation systems run by firms like OTC Markets, where more than 1 trillion shares in some of the riskiest companies changed hands last month.

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