The Securities and Exchange Commission has temporarily suspended trading in shares of Crypto Co. , citing concerns over “the accuracy and adequacy of information.” The concerns center on, among other things, the compensation paid for promotion of the company and statements in SEC filings about the plans of insiders to sell their common shares. “Questions have also arisen concerning potentially manipulative transactions in the company’s stock in November 2017,” the SEC said in a statement. The suspension took effect at 9:30 a.m. ET and extends until 11:59 p.m. on Jan. 3. The stock, which trades on OTC Markets Group Inc.’s OTC Link marketplace, formerly known as Pink Sheets, closed Monday at $575, up from $20 at the end of November. During November, the stock rose 67% and traded within a closing range of $20 to $40. The stock was trading at about a penny as recently as Aug. 14. Bitcoin futures fell 4.3% in morning trade, while the S&P 500 slipped 0.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News