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glencarnes · 4 months ago

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Penny Stocks Allow Buying Low, But Are They Worth It?

Penny stocks, despite their low prices, offer a glimmer of hope for investors with limited capital. If the company they invest in succeeds, they could potentially double, triple, or even quadruple their investment. This potential for high returns is one of the few advantages of penny stocks, but it is important to be aware of the accompanying risks.

Penny stocks typically are shares trading at $5 and below. These stocks are speculative because they do not have a proven track record or a sustainable business model, and they rarely trade on major securities markets but through over-the-counter transactions (OTC) or the OTC Bulletin Board System. They are attractive to investors because they allow them to buy large numbers of shares inexpensively. While these investments might be lucrative in the short term, their long-term profitability is slim. Conversely, an advisory warning from the US Securities and Exchange Commission warns investors of the possibility of losing their entire investment, the investment risk so great.

Another enticing aspect of penny stocks is the potential for quick returns. These stocks are known for their extreme volatility, often soaring to incredible heights and then plummeting. It is not uncommon for these stocks to rise by up to 1000 percent in a single day. This volatility, while risky, can also be thrilling for investors who are prepared for the ups and downs.

Their volatility is one main disadvantage. Rumors, market momentum, and market psychology often trigger these fluctuations in stock prices rather than the company’s fundamentals, such as earnings.

Another significant disadvantage is that the companies that own these stocks are not bound to the same financial disclosure and accounting mandates as securities. These stocks typically trade on the Pink Open Market (over-the-counter), which are companies that do not meet requirements for being listed on the US Stock Exchange (NYSE or NASDAQ) or any major exchange, for that matter. Investors might receive unreliable, incomplete, or false information about their potential investment without oversight in the major markets.

An added disadvantage related to OTC-traded companies and the lack of disclosure is that investors are susceptible to fraud. An April 2023 USA Today article said that OTC penny stocks are akin to the Wild West of trading. Limited liquidity, which can also be a disadvantage, combined with a lack of regulatory oversight, provides fraudsters with opportunities to scam investors. Fraudulent “pump and dump” schemes involve companies selling shares to naïve investors using high-pressure sales tactics and giving them false information. The scammers then sell off their shares once stock prices rise. The unsuspecting investor is left with shares worth little after stock prices plummet.

Even with the many disadvantages, investors are attracted to these stocks. If investing in penny stocks, investors should be emotionally alright with losing money- the amount established by the investor. Investors should conduct independent research on the companies and only partially rely on the information the company provides investors. Also, investors should choose companies on one of the major exchanges.

Ultimately, penny stocks offer few advantages for investors with capital, but there are other, safer ways to invest small amounts. One alternative to investing in penny stocks is to purchase low-cost shares from established companies. A June 2024 Motley Fool article reported that investors who invested in Sirius XM Holdings, Ubisoft, and Himax Technologies paid less than $10 a share in 2023. The stock exchanges are rife with solid companies with reasonably priced shares.

Investors can also place their capital in fractional shares through investing apps and online trading companies, which are portions of a stock. Depending on the platform, investors can invest as little as $5 on purchasing fractional shares. These fractional shares come from company stock splits. For example, a three-for-two stock split gives investors three stocks for every two they own. Mergers and acquisitions are another instance when fractional shares are created as companies combine stock using a predetermined ratio.

#Glen Carnes

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stockmarketanalysis · 5 months ago

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Stock Market Operators: Understanding Their Role and Impact

In the world of finance, stock market operators play a crucial role in facilitating the smooth functioning of stock exchanges and ensuring orderly trading activities. From executing trades to maintaining market integrity, these entities form the backbone of the stock market ecosystem. This article delves into the various aspects of stock market operators, their functions, significance, and their impact on the broader financial landscape.

What are Stock Market Operators?

Stock market operators are entities that manage and operate stock exchanges or trading platforms where securities such as stocks, bonds, commodities, and derivatives are bought and sold. They provide the infrastructure and services necessary for investors, traders, and issuers to participate in the market.

Functions of Stock Market Operators:

Trade Execution: One of the primary functions of stock market operators is to facilitate the execution of buy and sell orders placed by investors and traders. They match these orders in an efficient and transparent manner, ensuring fair pricing and liquidity in the market.

Market Surveillance: Stock market operators monitor trading activities to detect and prevent market abuse, such as insider trading, market manipulation, and fraudulent activities. This helps maintain market integrity and investor confidence.

Listing Requirements: Stock exchanges set criteria and requirements for companies seeking to list their securities for trading. Stock market operators evaluate these listings to ensure compliance with regulatory standards and market suitability.

Market Data Services: They provide real-time market data, including price quotes, trading volumes, and historical data, which are essential for market participants to make informed investment decisions.

Clearing and Settlement: Stock market operators facilitate the clearing and settlement of trades, ensuring that securities and funds are exchanged between buyers and sellers according to agreed-upon terms. This process reduces counterparty risk and ensures smooth transaction settlement.

Market Regulation: They enforce rules and regulations governing trading activities on the exchange, ensuring fair practices and maintaining orderly markets. Regulatory compliance is essential for maintaining the exchange's credibility and reputation.

Types of Stock Market Operators:

Stock Exchanges: These are primary market operators where securities are listed and traded publicly. Examples include the New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE), and Bombay Stock Exchange (BSE).

Alternative Trading Systems (ATS): These are platforms that facilitate trading outside traditional stock exchanges. They match buyers and sellers electronically and are subject to regulatory oversight similar to stock exchanges.

Dark Pools: These are private trading platforms that allow institutional investors to execute large orders anonymously. Dark pools operate outside public exchanges and are designed to minimize market impact when trading significant volumes.

Importance of Stock Market Operators:

Market Efficiency: By providing liquidity and transparency, stock market operators contribute to market efficiency, ensuring that prices reflect true market value and that trades are executed promptly and fairly.

Capital Formation: They play a crucial role in capital formation by enabling companies to raise funds through initial public offerings (IPOs) and secondary offerings. This capital is essential for business expansion, innovation, and economic growth.

Investor Protection: Through robust regulation and surveillance, stock market operators protect investors from fraudulent activities and market abuses, promoting investor confidence and participation in the market.

Price Discovery: Stock exchanges facilitate price discovery, where supply and demand dynamics determine the fair market price of securities. This process ensures that investors receive competitive prices when buying or selling stocks.

Challenges Faced by Stock Market Operators:

Technological Risks: Rapid advancements in technology present challenges such as cybersecurity threats, system failures, and the need for continuous innovation to maintain operational efficiency.

Regulatory Compliance: Adhering to evolving regulatory requirements and ensuring compliance with global standards can be complex and resource-intensive for stock market operators.

Market Volatility: Managing market volatility and maintaining liquidity during periods of economic uncertainty or geopolitical events requires proactive risk management strategies.

Future Trends in Stock Market Operations:

Digital Transformation: Stock market operators are embracing digital technologies, including blockchain, artificial intelligence (AI), and cloud computing, to enhance operational efficiency, reduce costs, and improve service delivery.

Globalization: Increasing interconnectedness of global financial markets is driving collaboration among stock exchanges and the adoption of harmonized regulatory frameworks to facilitate cross-border trading.

Sustainable Finance: There is a growing emphasis on sustainable investing and environmental, social, and governance (ESG) criteria. Stock market operators are integrating ESG considerations into their listing requirements and trading practices.

Conclusion

Stock market operators play a pivotal role in the functioning of financial markets worldwide, facilitating trading activities, ensuring market integrity, and fostering economic growth. By providing the infrastructure and regulatory framework for fair and transparent trading, they contribute to investor confidence and capital formation. As markets evolve and technological advancements reshape the landscape, stock market operators will continue to adapt, innovate, and uphold their critical role in the global economy. Understanding their functions and impact is essential for investors, regulators, and stakeholders navigating the complexities of today's financial markets.

#finance #investing stocks #stock #stock trading #stock market

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ailtrahq · 1 year ago

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The heart of the DOJ’s argument lies in the assertion that evidence regarding the current value of Bankman-Fried’s investments, particularly his stake in Anthropic, is irrelevant to the charges against him. The legal saga surrounding Sam Bankman-Fried (SBF), the founder of the crypto exchange FTX, continues to unfold as the US Department of Justice (DOJ) seeks to exclude specific evidence from his defense. The request aims to preclude the defendant from introducing evidence or argument related to the current value of certain investments made by Bankman-Fried, particularly his investment in Anthropic, an Artificial Intelligence startup. Background of the DOJ Request on Anthropic Sam Bankman-Fried is facing charges related to wire fraud, specifically the misappropriation of funds from FTX customers to finance various investments, including the aforementioned investment in Anthropic. The DOJ alleges that these funds were stolen from FTX customers, forming the basis of their case against the defendant. Anthropic, the AI startup in question, gained public attention by announcing plans to raise additional capital from investors like Amazon.com Inc (NASDAQ: AMZN) and Google. Reports suggest that this new investment could potentially value the company between $20 billion and $30 billion, which may significantly impact the value of Bankman-Fried’s initial investment. Meanwhile, FTX took a stake in Anthropic that was worth $500 million when it filed for bankruptcy nearly a year ago. However, the bankruptcy trustee for FTX has not yet sold FTX’s stake in Anthropic. This delay in selling the stake has now become a matter of interest and speculation, especially among FTX creditors who are eagerly anticipating any potential recovery from the bankruptcy proceedings. The DOJ’s Argument The heart of the DOJ’s argument lies in the assertion that evidence regarding the current value of Bankman-Fried’s investments, particularly his stake in Anthropic, is irrelevant to the charges against him. The government claims that even if the value of these investments has increased significantly, it does not mitigate the alleged fraudulent activities undertaken by Bankman-Fried during the course of his tenure at FTX. The government cites legal precedents, such as United States v. Sindona and United States v. Males, to emphasize that the immediate intent to misapply and defraud is the primary focus in such cases. The prosecutors, therefore, highlighted that belief in future profitability or intent to repay misappropriated funds is irrelevant. Furthermore, the DOJ contends that evidence of the current value of Anthropic shares, or any other investments, could mislead the jury and create undue confusion. Valuations in venture capital investments are often speculative and subject to change, as evidenced by the example of FTX itself. This could potentially lead to a lengthy and unnecessary mini-trial regarding the value of assets available through bankruptcy proceedings, which is unrelated to the central issues the jury needs to decide. Lastly, the DOJ argues that introducing such evidence could encourage a verdict based on an improper basis. While the government acknowledges that Bankman-Fried’s misappropriation led to FTX’s bankruptcy, it has not offered evidence of how much money victims will ultimately lose. Therefore, introducing evidence of the current value of investments would serve no purpose other than to prejudice the proceedings. Thank you! You have successfully joined our subscriber list.

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smitharaghu · 2 years ago

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Crypto Investors Beware: The Shocking Truth About Coinbase vs Binance Revealed

Cryptocurrency has become an increasingly popular investment option, with more and more people turning to digital assets as a way to diversify their portfolios. However, with the rise in demand comes an increase in competition between platforms, such as Coinbase and Binance, to attract users and provide the best services. But what should investors be aware of when choosing between these two popular crypto exchanges?

Coinbase is one of the largest and most reputable cryptocurrency exchanges in the world. Founded in 2012, it offers a user-friendly platform that allows users to buy, sell, and store various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The company is also one of the few exchanges that are publicly listed on the NASDAQ, which gives it a level of legitimacy and transparency that is unmatched by most other exchanges.

On the other hand, Binance is a relatively new player in the market, having been founded in 2017. However, it has quickly become one of the largest and most popular exchanges, with a daily trading volume that rivals that of Coinbase. The platform offers a wide range of features, including trading with leverage, staking, and even its own native cryptocurrency called Binance Coin (BNB).

But despite the popularity of these platforms, there are some concerning issues that investors should be aware of. One of the most significant issues is the lack of regulation in the cryptocurrency industry. Unlike traditional financial institutions, such as banks, which are heavily regulated by government agencies, the cryptocurrency industry is largely unregulated. This lack of oversight can leave investors vulnerable to scams, hacks, and other fraudulent activities.

Another issue to consider is the fees associated with using these platforms. Coinbase charges relatively high fees for its services, with transaction fees ranging from 1.49% to 3.99% depending on the payment method. In comparison, Binance charges lower fees, with transaction fees ranging from 0.02% to 0.1%. However, Binance does charge a fee for withdrawals, which can vary depending on the cryptocurrency being withdrawn.

One of the most significant differences between Coinbase and Binance is the range of cryptocurrencies that are available for trading. Coinbase supports a limited number of cryptocurrencies, with only 58 cryptocurrencies available for trading at the time of writing. In contrast, Binance offers a much wider range of cryptocurrencies, with over 600 different cryptocurrencies available for trading. This means that investors looking to trade less popular cryptocurrencies may find that Binance is a better option.

Another issue that investors should be aware of is the security of their funds. Both Coinbase and Binance have a range of security measures in place to protect user funds. For example, Coinbase stores the majority of its funds in cold storage, which means that they are stored offline and inaccessible to hackers. Binance, on the other hand, has a range of security measures in place, including two-factor authentication and biometric authentication.

However, both platforms have suffered security breaches in the past. In 2019, Coinbase suffered a data breach that resulted in the theft of over 1,000 customers' data. Binance has also experienced security breaches, with the most notable being the hack in May 2019 that resulted in the theft of over $40 million worth of cryptocurrency. While both platforms have taken steps to improve their security measures, investors should still be aware of the risks associated with investing in cryptocurrencies.

In conclusion, the comparison between Coinbase and Binance has revealed some important differences that investors should consider before choosing a cryptocurrency exchange. While Coinbase offers a more user-friendly platform and better regulatory compliance, Binance boasts lower fees and a wider selection of cryptocurrencies. Ultimately, the choice between these two exchanges will depend on the individual needs and preferences of each investor.

If you're interested in staying up-to-date on the latest news and analysis of the startup world, be sure to check out Startup Observer at https://startupobserver.com/. Their in-depth coverage of the cryptocurrency industry and other cutting-edge technologies can help you make informed investment decisions and stay ahead of the curve.

#crypto #coinbase #investment #digital assets

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cryptodailysun · 3 years ago

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“The vast majority of advisors we surveyed either plan to begin allocating to crypto or increase their existing allocation to crypto,” said Nasdaq's Jake Rapaport. While the United States Securities and Exchange Commission has yet to approve a spot Bitcoin exchange-traded fund, a recent Nasdaq survey suggested that the offering could lead to greater adoption of crypto among financial advisers.According to the results of a Nasdaq survey released on Monday, 72% of 500 financial advisers would be more likely to invest their clients' assets in cryptocurrency should the SEC approve a spot crypto ETF product in the United States. For those already invested in crypto products, 86% of the financial advisers said they planned to increase allocations within a year — roughly half already have investments in ETFs linked to Bitcoin (BTC) futures. “The vast majority of advisors we surveyed either plan to begin allocating to crypto or increase their existing allocation to crypto,” said Jake Rapaport, Nasdaq’s head of digital asset index research. “As demand continues to surge, advisors will be looking for an institutional solution to the crypto question that now dominates client conversations.”New Nasdaq survey of financial advisors (who control $26T in assets) finds 72% of them would be more likely to invest in crypto if a spot ETF were available. Also of advisors curr investing in crypto, 86% plan to increase investment and their ideal allocation is 6% of port. pic.twitter.com/3r2mxbGny9— Eric Balchunas (@EricBalchunas) April 11, 2022 To date, the SEC has not offered any indication it plans to approve a spot BTC ETF anytime soon. The regulatory body has rejected several proposed rule changes on exchanges which would allow firms to list and trade shares of a Bitcoin exchange-traded fund, including from the New York Digital Investment Group, Global X, and ARK 21Shares. In each rejection, the SEC stated the exchanges had not met the burden under the Exchange Act and Rules of Practice of showing the ETF would be “designed to prevent fraudulent and manipulative acts and practices” and “protect investors and the public interest.”Grayscale, one of the next asset managers likely to hear a decision from the regulatory body on its spot Bitcoin ETF, launched a campaign in February aimed at encouraging U.S. investors to submit comments to the SEC. The regulator is expected to reach a decision on Grayscale converting its Bitcoin Trust into a spot BTC ETF for listing on NYSE Arca by July, with the public have submitted hundreds of comments as of April 4.“Investors deserve a choice of a spot BTC ETF and Grayscale conversion would be the most effective and efficient at doing so,” said Maryland resident Lance Lewis.Bloomberg analysts Eric Balchunas and James Seyffart suggested in March that the SEC could approve a spot Bitcoin ETF in mid-2023 based on a proposed amendment to change the definition of “exchange” within the regulatory body’s rules. However, Nasdaq’s survey of financial advisers found that only 38% thought it was likely the SEC would approve a spot crypto ETF sometime in 2022, with 31% saying it was unlikely.Related: Here’s why the SEC keeps rejecting spot Bitcoin ETF applicationsDespite the uncertainty around a spot Bitcoin ETF, the SEC has given the green light to investment vehicles linked to BTC futures, including offerings from Teucrium, ProShares, VanEck and Valkyrie. Grayscale CEO Michael Sonnenshein has suggested that the regulatory body approving Teucrium’s BTC futures ETF under the Securities Act of 1933 as opposed to the one passed in 1940 supports the idea that “not all Bitcoin futures ETFs are created equal”:Therefore, if the SEC is comfortable with a #Bitcoin futures #ETF, they must also be comfortable with a spot Bitcoin ETF. And they can no longer justifiably cite the ‘40 Act as being the differentiating factor.— Sonnenshein (@Sonnenshein) April 7, 2022 Go to Source

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cryptosnewss · 3 years ago

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BTC Worth $1.1 Million Sent to a Confirmed Michael Saylor Giveaway Scam

A confirmed fraudulent address posing as Michael Saylor of MicroStrategy received over $1.1 million in bitcoins in January alone. The CEO of the NASDAQ-listed company later revealed that his team reports such addresses almost constantly, but to no avail. Impersonation scams in the crypto industry are a growing threat in which perpetrators pretend to be someone famous in the community and offer…

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hknd123321 · 3 years ago

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SPAC Regulatory Level: Combining Functional Regulation with Bottom Line Regulation

As an innovative trading model in the US financial market, the SPAC listing mechanism has gained space for rapid development and stable operation, which is closely related to reasonable and appropriate supervision. Analyzing the SPAC listing mechanism supervision system, there are three important links as follows: (1) Regulatory rules issued by the regulatory authorities. It is mainly reflected in the Rule 419 issued by the SEC in response to the early market fraud of blank check companies; in response to the development of SPAC listing, the SEC's submission requirements for S-1 and 8-K forms. (2) The self-regulatory rules issued by the stock exchange. It is mainly reflected in the rules of the Nasdaq stock exchange that allow SPACs and target companies to be listed after the merger, and the rules of the American stock exchange that allow SPACs to be listed directly on the main board. (3) Self-regulation of industry rules in the SPAC market. Regarding the SPAC listing mechanism, the US regulatory authorities have not issued special regulatory provisions similar to blank check companies. The stable operation of the SPAC listing market mainly relies on industry self-discipline. From the fraudulent listing of blank check companies to the industry self-discipline of SPAC listing, and extracting the regulatory concepts of the US regulatory authorities, this paper believes that functional regulation and bottom-line regulation are the "two magic weapons" of the SEC. First, functional supervision focuses on the basic situation of financial products, such as financial functions, financial risks, etc., and determines whether and what kind of supervision is required according to the actual situation. In the U.S. SPAC market, the U.S. regulatory authorities jumped out of the passive regulatory model of “transaction model innovation forces regulatory reform”, although it can further regulate the SPAC transaction process through regulatory provisions similar to Rule 419 to ensure the continued stability of SPACs run, but there is a risk of over-regulation in doing so. The U.S. regulatory authorities chose to trust the industry’s self-discipline and continued to hand over the responsibility of maintaining industry stability to the “invisible hand” of the market. From the practical effect, this move not only guaranteed the stable development of the SPAC listing market, but also provided new types of transactions. There is plenty of room for innovation in the model. Both, bottom-line supervision focuses on delineating the minimum regulatory requirements of the industry. As long as the bottom line is not broken, exchanges are allowed to freely design listing rules and self-regulatory terms, and traders are also encouraged to innovate trading tools. The main purpose of bottom-line supervision is to prevent the stock exchange from falling into the "race to the bottom" of "ingratiating" listed companies in order to obtain more listing resources. The regulated SPACs do not continue to restrict, which reflects the tolerance of bottom-line supervision to transaction innovation; when faced with the US stock exchange allowing SPACs to be listed directly to seize the huge market resources of SPACs, the regulatory authorities also did not prevent them, which reflects the bottom-line supervision’s concern. Acceptance of the design of the self-regulatory rules of the stock exchange. For my country, if the SPAC listing mechanism is introduced, it should learn from the US regulatory experience, and take functional regulation and bottom-line regulation as the regulatory concept of the SPAC market. First of all, it needs to be clear that the market self-discipline supervision model is not suitable for the development of new markets in my country. The tacit industry self-discipline in the U.S. SPAC market stems from the SEC’s mandatory supervision intervention in the chaotic market order during the period of blank check fraud. The over-regulated approach has led to new industry standards, making it almost impossible for SPACs to be the first to break industry rules to complete financing. In the early stage of the introduction of the system, my country has not formed a good market competition environment, and it is obviously a fantasy to hand over the supervision power to the industry's self-discipline. However, the concept of functional supervision and bottom-line supervision is worth learning from. Specifically, the supervision system for SPAC listing can be established through the following "two-step" approach: First, the legislature and the supervisory authority should adopt a bottom-line supervision attitude, and On the basis of national financial security, with the protection of financial consumers’ rights and interests as the requirement, and with the steady development of the securities market as the goal, a unified regulatory bottom line is set. Second, the formulation of specific regulatory provisions should delegate power to stock exchanges, and stock exchanges should supervise SPAC listings through listing rules and other self-regulatory management norms. Rules need to be guided by functional regulation. On the one hand, to comply with the regulatory trend, impose necessary and efficient supervision on SPACs, avoid "excessive supervision" and "multiple supervision", and prevent overly stringent exchange self-regulation rules from "scare away" listing resources; Unlimited relaxation of regulatory standards to "please" listed companies' "race to the bottom" trap, while avoiding the emergence of a "regulatory vacuum".

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ericvick · 3 years ago

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Justice Clarence Thomas, Mexico's Decriminalization, Apple's Policy Changes, Tilray And More

Below is a recap of the main news related to the cannabis industry and markets for the week of June 28, 2021.

Justice Thomas

Justice Clarence Thomas, the Supreme Court’s longest-serving member, issued a crude statement on federal cannabis prohibition, highlighting irregularities in the federal government’s approach to marijuana policy.

Thomas, who has served in the Supreme Court for almost 30 years and is often viewed as among the most conservative, said “once comprehensive, the Federal Government’s current approach is a half-in, half-out regime that simultaneously tolerates and forbids local use of marijuana.”

The Judge went so far as to say that prohibition of intrastate cannabis use or cultivation may no longer be necessary “to support the Federal Government’s piecemeal approach.”

The government, according to Thomas, has sent mixed signals on its position regarding cannabis prohibition.

While on the one hand, federal law still “flatly forbids the intrastate possession, cultivation, or distribution of marijuana,” the federal government has consistently allowed these acts.

All details here.

Mexico

Mexico’s Supreme Court voted down the country’s cannabis prohibition laws in an 8-3 vote.

The passage comes after the Senate and Congress missed several High Court-ordered deadlines to pass revised legislation.

Under the Supreme Court decision, citizens are now allowed legal access to cannabis, negating the previous exclusivity to medical patients. Citizens can now be issued permits for adult use and cultivation through the Health Department until legislation is passed.

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

The ruling does not approve of citizens turning to the illicit market in the meantime. Rather, cultivation laws allow a person to grow six plants for personal use, with a cap of eight per household.

Apple’s Policy Changes

As first reported by TechCrunch and WeedWeek, the ongoing conundrum between cannabis and tech took its latest turn last month, when Apple Inc (NASDAQ: AAPL) updated its policies to allow pot-centric apps onto its store.

Story continues

Under its new policy, Apple created leeway that allows “licensed and otherwise legal cannabis dispensaries” from working with Apple. Companies must also be geofenced to qualify for store listing.

The decision was not a cannabis-specific one made by Apple. Instead, the move came as part of the company’s attempt to curtail fraudulent apps that scam consumers across the marketplace.

Alphabet Inc Class A (NASDAQ: GOOGL), which announced its ban on cannabis apps in 2019, continues to stick with its policy regarding its Google Play store.

The decision comes as tech giants continue to handle cannabis apps and accounts in often unclear ways.

Markets

Over the five trading days of this week:

The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 2.5%.

The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): closed almost flat.

The AdvisorShares Pure US Cannabis ETF (NYSE: MSOS): rose 1.3%.

The Cannabis ETF (NYSE: THCX): was down 1.6%.

The Amplify Seymour Cannabis ETF (NYSE: CNBS): tumbled 0.7%.

The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the week up 1.68%.

GrowGeneration Corp (NASDAQ: GRWG) was added to the Russell 2000 Index.

Tilray Inc. (NASDAQ: TLRY) released a proxy statement with an open letter from the company’s CEO Irwin D. Simon, in which he called on shareholders to support a proposal to be discussed up at the upcoming annual shareholder meeting.

Simon asked shareholders to support a proposal that will allow the company to increase the number of authorized shares of common stock, enabling it to make acquisitions for growth. He also asked shareholders to authorize several amendments and changes to the company’s organizational documents that would expand shareholders’ rights.

Also this week, the company announced that its SweetWater Brewing Company launched its first Canadian craft cannabis brew in the U.S. in collaboration with Canada’s Broken Coast Cannabis Ltd.

Sha’Carri Richardson

American sprinter Sha’Carri Richardson, who won the hearts of millions of sports fans, lost her chance to shine at this year’s U.S. Olympics after she tested positive for cannabis.

The U.S. Anti-Doping Agency confirmed Friday that Richardson has accepted a one-month suspension by which the results of her Olympics trials have been “disqualified, and she forfeits any medals, points, and prizes” as allowed under the international anti-doping regulations.

A Weak Q2

The Global Cannabis Stock Index fell for the fourth straight month, dropping 4.1% to 57.10.

During the second quarter, the index was down 8.7%.

After gaining 5.2% in 2020 when it ended at 44.39, the index is up 28.6% in 2021 and has gained 94.2% over the past year.

The index dropped 38.3% from its 2021 closing high of 92.48 on February 10.

In addition, it had 46 qualifying members during the month, following the quarterly rebalancing at the end of March as well as Aphria’s merger with Tilray and Jazz Pharmaceuticals PLC’s (NASDAQ: JAZZ) acquisition of GW Pharma (NASDAQ: GWPH) in May.

Regulatory Updates

This week:

Colorado’s Governor Signed A New Law With Stricter Rules For Doctors Recommending Medical Cannabis

Rhode Island Cannabis Workers Went On Strike After A Union Organizer Was Unjustly Fired

Pennsylvania Senate Rejected A Medical Cannabis Home Growing Amendment

Delaware Cannabis Legalization Must Wait Until Next Year

South Dakota’s Supreme Court Won’t Decide If Recreational Cannabis Use Law Is Unconstitutional Until After July 1

North Carolina: Medical Marijuana Wins Nearly Unanimous Approval In GOP-Controlled General Assembly

All the details in this article.

In addition, new cannabis laws went into effect in several states, from Connecticut and South Dakota to Virginia, New Mexico and North Carolina.

Financings And M&A

Glass House Group completed its business combination with Mercer Park, creating the largest cannabis brand-building platform in California and setting the stage for interstate commerce when the walls come down.

Glass House trades on the NEO Exchange under the symbols (GLAS.A.U) and (GLAS.WT.U).

“We are incredibly excited to announce the completion of our business combination with Mercer Park. By leveraging our leadership in the California market, we are exceptionally well-positioned to capitalize on the growing statewide and national consumer packaged goods opportunity. We will continue to introduce high-quality, sustainably grown, craft cannabis to the market to support the health and enjoyment of our consumers, as well as our environment and our community,” Kyle Kazan, Glass House chairman and CEO, told Benzinga.

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE:3LP) raised $74.5 million through a private placement offering of 6% secured convertible notes.

The company also completed the purchase of Ohio-based CannaAcend, acquiring four dispensaries located in Logan, Marietta, Dayton and Monroe.

View more earnings on MJ

Kadenwood raised $50 million in a Series B funding round led by The Craftory and Arcadian Capital Management as well as currently involved investors.

Vertical Wellness and hemp products and services provider CanaFarma Hemp Products Corp. (CSE: CNFA) (OTC: CNFHF) are merging to create an industry leader, which will be valued at more than $50 million.

Hexo Corp (TSX: HEXO) (NYSE: HEXO) completed its previously announced acquisition of a Colorado-based production facility for an undisclosed price, marking its first in the US.

Nabis completed a $23 million Series B funding round Thursday that was led by FJ Labs, Artemis Growth Partners, Silverleaf Venture Partners, Liquid 2 Ventures and Stanley Tang (Co-Founder, DoorDash).

SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) is on its way to a merger with Vermont’s High Fidelity, Inc. SLANG will pay $12 million by issuing some 31,578,947 of its restricted voting shares at 38 cents per share and $3 million in cash at the closing.

In addition, SLANG agreed to pay an additional $250,000 through the issuance of 657,894 of its shares at the set price and $2 million in cash in 18 months following the finalization of the merger.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) purchased a Worcester-based dispensary from Nature’s Remedy of Massachusetts, Inc., for $13.5 million, boosting its footprint to two shops in the Bay State.

TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), which does business as The Parent Company, will buy the West Hollywood-based dispensary for $11.5 million.

Schwazze (OTCQX: SHWZ) is purchasing BG3 Investments, LLC, which is doing business as Drift and operates two marijuana retail stores in Boulder, Colorado. Under the $3.5 million deal, the Denver-based company, previously known as Medicine Man Technologies Inc, is also acquiring the assets of Black Box Licensing, LLC, which includes particular intellectual property.

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) closed the acquisition of Virginia-based Dharma Pharmaceuticals LLC.

Earnings Reports

Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) (FSE: F11) posted a 53% year-over-year increase in revenue, reaching $13.9 million in the first quarter of 2021 and a second-quarter 2021 preliminary unaudited revenue guidance of $16-$18 million.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB) expects to generate roughly $7.1 million in the third quarter of 2021. That’s a $5.1 million revenue growth compared to the prior period.

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) reported financial results Monday for the second quarter and six-month period ending April 30. Revenue totaled CA$4.6 million ($3.73 million) in the second quarter, representing a sequential and year-over-year increase of 251% and 338%, respectively.

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) reported its financial results for the second quarter of fiscal 2021 with revenue of CA$40.9 million ($33.12 million), up by 99% quarter over quarter. The quarterly results include the merger with META Growth Corp. in an all-stock transaction and the acquisition of Smoke Cartel, Inc. for $8 million.

WeedMD Inc. (TSXV: WMD) (OTCQX: WDDMF) (FSE: 4WE) saw gross revenue climb to CA$12.9 million ($10.46 million) in the first quarter of 2021 – a 7% spike compared to what the Toronto, Canada-based company disclosed in its previous guidance for the period.

SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt:39H) generated $1.65 million in revenue from the sale of flower, extracts and services over the nine months ended April 30. That’s a growth of 100% over the comparable period last year.

Find all the details on these and other earnings reports on Benzinga Cannabis’ Earnings Center.

Latin America

Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) received a quota to export over 700 kg of high-THC extract to Mexico.

Leveraging the company’s designation in Colombia as a National Strategic Project, Khiron Colombia SAS obtained permission to include Mexico as a destination country within its international export quota.

International Cannabis Corporation (ICC), will stop producing recreational marijuana for the Uruguayan market, having allowed its contract with Uruguay’s Institute for the Regulation and Control of Cannabis (IRCCA) to lapse without signing a new one.

ICC Labs, founded by Uruguayan businessman-turned-politician Sen. Juan Sartori, was bought by Aurora Cannabis (NASDAQ: ACB) for C$290 million ($220 million) in 2018. While ICC produces nearly half of the cannabis sold in pharmacies in Uruguay, many consumers turn to legal grow “clubs” for better quality, since the cannabis offered in pharmacies is often not very potent.

Europe

As Curaleaf International‘s subsidiary Adven GmbH seeks to advance its medical cannabis products in Germany, it has teamed up with an Italian pharmaceutical company, Zambon Spa, with whom it will provide medical cannabis treatments for patients, with an initial focus on neurological therapies.

Based in London, Curaleaf said Tuesday the first treatment will be launched in Germany in the months to come. The company’s CEO, Antonio Costanzo said he is delighted to team up with Zambon. He called the deal “the first European pharmaceutical and medical cannabis partnership.”

Other News

Clever Leaves Holdings Inc. (NASDAQ: CLVR) announced the launch of its U.S.-focused research initiative, Project Change Lives, under which the company will contribute up to $25 million in retail value of medical cannabis products to any eligible U.S. organization to help advance scientific research into the potential medical benefits of cannabinoids.

National cannabis law firm Vicente Sederberg LLP is launching an Impact & ESG practice aimed at helping the cannabis industry become a leader in sustainability, corporate social responsibility, and diversity, equity, and inclusion. Adopting ESG practices and measuring their impacts is growing in popularity across all sectors, as investors, consumers, and workers are increasingly focusing on companies’ social and environmental impacts. Countries across Europe already require reporting of non-financial ESG metrics in their disclosures of material risks to investors, and the SEC is poised to adopt similar regulatory requirements for U.S. companies.

“The cannabis industry is still in its early stages, giving companies a unique opportunity to prioritize ESG and implement good practices right from the start. With legalization laws being developed and implemented across the country, the cannabis industry is under a microscope, putting a lot of pressure on businesses to do better on social and environmental issues,” said Marc Ross, counsel and head of impact & ESG at Vicente Sederberg.

Greenway Greenhouse Cannabis Corporation announced significant steps toward listing on the CSE, filing a preliminary prospectus and initial application.

“Greenway represents the next step in a lifetime of agricultural experience and innovation. We’ve been bringing fresh produce to consumers across North America for years and we’re excited to leverage our greenhouse expertise with this legal crop of cannabis,” said Jamie D’Alimonte, CEO and co-chair of Greenway.

Eybna announced partnerships with three brands, Old Pal, Creed n C and Lemon Tree, to introduce new products that maximize the cannabis sensory experience by using Eybna’s proprietary, data-driven terpene formulations.

Executive Moves

Find out all about the latest executive moves at:

Plus Products, THC Farmaceuticals, Kanabo Group, Surna, Albert Labs

Ghost Drops, Virtual Medical International, Hemp Meds, Avicanna, Silver Therapeutics, Ayr Wellness

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vsplusonline · 4 years ago

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US Senate passes bill to delist Chinese companies from exchanges - Times of India

New Post has been published on https://apzweb.com/us-senate-passes-bill-to-delist-chinese-companies-from-exchanges-times-of-india/

US Senate passes bill to delist Chinese companies from exchanges - Times of India

(Representative image)

NEW DELHI: The Senate overwhelmingly approved legislation on Wednesday that could lead to Chinese companies such as Alibaba Group Holding Ltd and Baidu Inc being barred from listing on US stock exchanges amid increasingly tense relations between the world’s two largest economies. The bill, introduced by Senator John Kennedy, a Republican from Louisiana, and Chris Van Hollen, a Democrat from Maryland, was approved by unanimous consent and would require companies to certify that they are not under the control of a foreign government. US lawmakers have raised red flags over the billions of dollars flowing into some of China’s largest corporations, much of it from pension funds and college endowments in search of fat investment returns. Alarm has grown in particular that American money is bankrolling efforts by the country’s technology giants to develop leading positions in everything from artificial intelligence and autonomous driving to internet data collection. Shares in some of the biggest US-listed Chinese firms, including Baidu and Alibaba, slid on Thursday in New York while the broader market gained. If a company can’t show that it is not under such control or the Public Company Accounting Oversight Board, or PCAOB, isn’t able to audit the company for three consecutive years to determine that it is not under the control of a foreign government, the company’s securities would be banned from the exchanges. “I do not want to get into a new Cold War,” Kennedy said on the Senate floor, adding that he wants “China to play by the rules.” “Publicly listed companies should all be held to the same standards, and this bill makes common sense changes to level the playing field and give investors the transparency they need to make informed decisions,” Van Hollen said in a statement. “I’m proud that we were able to pass it today with overwhelming bipartisan support, and I urge our House colleagues to act quickly.” House bill Stricter US oversight could potentially affect the future listing plans of major private Chinese corporations from Jack Ma’s Ant Financial to SoftBank-backed ByteDance Ltd. But since discussions on increased disclosure requirements began last year, many other Chinese companies have either listed in Hong Kong already or plan to do so, said James Hull, a Beijing-based analyst and portfolio manager with Hullx. “All Chinese US-listed entities are potentially impacted over the coming years,” he said. “Increased disclosure may hurt some smaller companies, but there’s been risk disclosures around PCAOB for a while now, so it shouldn’t be a shock to anyone.” In a sign of broad support for the measure, Representative Brad Sherman, a California Democrat on the House Financial Services Committee, introduced a companion bill in that chamber. Sherman said in a statement that Nasdaq moved this week to delist China-based Luckin Coffee after executives at the company admitted fabricating $310 million in sales between April and December 2019. “I commend our Senate counterparts for moving to address this critical issue,” Sherman said. “Had this legislation already been signed into law, US investors in Luckin Coffee likely would have avoided billions of dollars in losses.” House leaders are discussing the legislation — and a separate Senate-passed bill to sanction Chinese officials over human rights abuses against Muslim minorities — with lawmakers and members of the relevant committees, a Democratic aide said. The Senate measure is an example of the rising bipartisan pushback against China in Congress that had been building over trade and other issues. It has been amplified especially by Republicans as President Donald Trump has sought to blame China as the main culprit in the coronavirus pandemic. GOP lawmakers have in recent weeks unleashed a torrent of legislation aimed at punishing China for not being more forthcoming with information or proactive in restricting travel as the coronavirus began to spread from the city of Wuhan, where it was first detected. Trump escalated his rhetoric against China on Wednesday night, suggesting that leader Xi Jinping is behind a “disinformation and propaganda attack on the United States and Europe.” “It all comes from the top,” Trump said in a series of tweets. He added that China was “desperate” to have former Vice President Joe Biden win the presidential race. Kennedy told a news agency on Tuesday that the bill would apply to US exchanges such as Nasdaq and the New York Stock Exchange. “I would not turn my back on the Chinese Communist Party if they were two days dead,” Kennedy said. “They cheat. And I’ve got a bill to stop them from cheating.” At issue is China’s longstanding refusal to allow the PCAOB to examine audits of firms whose shares trade on the New York Stock Exchange, Nasdaq and other US platforms. The inspections by the little-known agency, which Congress stood up in 2002 in response to the massive Enron Corp accounting scandal, are meant to prevent fraud and wrongdoing that could wipe out shareholders. Since then China and the US have been at odds on the issue even as companies including Alibaba and Baidu have raised billions of dollars selling shares in American markets. The long-simmering feud came to the forefront last year as Washington and Beijing clashed over broader trade and economic issues, and some in the White House have been urging Trump to take a harder line on the audit inspections. Last week, Trump said in an interview said that he’s “looking at” Chinese companies that trade on the NYSE and Nasdaq exchanges but do not follow US accounting rules. Still, he said that cracking down could backfire and simply result in the firms moving to exchanges in London or Hong Kong. While not technically part of the government, the PCAOB is overseen by the Securities and Exchange Commission. The ability to inspect audits of Chinese firms that list in the US is certain to come up at a roundtable that the SEC is holding July 9 on risks of investing in China and other emerging markets. Senators Kevin Cramer, Tom Cotton, Bob Menendez, Marco Rubio and Rick Scott are also sponsors of the bill. Rubio applauded the passage of the Kennedy-Van Hollen bill and said it incorporated aspects of a similar bill he introduced last year. “I was proud to work with Senator Kennedy on this important legislation that would protect American retail investors and pensioners from risky investments in fraudulent, opaque Chinese companies that are listed on US. exchanges and trade on over-the-counter markets,” Rubio said in a statement. “If Chinese companies want access to the US capital markets, they must comply with American laws and regulations for financial transparency and accountability.” According to the SEC, 224 US-listed companies representing more than $1.8 trillion in combined market capitalization are located in countries where there are obstacles to PCAOB inspections of the kind this legislation mandates.

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howtobest · 5 years ago

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How Invest Stock for Beginner Guide Step by Step Process

Are you thinking to start investing in the stock market and want to know how invest stock and how to buy stock, then you are in the right place. I guide you step by step process. If you look at the history of billionaires they continuously invest in stock market for a long time term. It is is one of the most profitable ways to build wealth over the long term. Before jump how to invest stock you must know basic details on investment.

What is Stock

A stock also called shares or equity are securities that represent an ownership share in a company. When you buy stock in a company, you are called a shareholder because you share in the company’s profits. A company listed stock to raise money and it comes in two types—common or preferred. Common stock entitles the stockholder to a proportionate share of a company's profits or losses. Preferred stock, meanwhile, comes with a predetermined dividend payment.

what is share market

A Share Market is also called a Stock Market where Stocks are bought and sold timely by Traders, Small investors, institutions, Mutual fund Companies. These transactions have to conform by government regulations which are meant to protect investors from fraudulent practices. The most famous stock exchange are Nasdaq, New York Stock exchange, Nifty, Sensex and many more.

what is stockbroker

A stockbroker is a professional who executes buy and sell orders for stocks and other securities on behalf of clients. There are two types of Stockbroker, One is Full-Service Broker and another is Discount Broker. Full-Service Broker: Full-service brokers are mainly traditional brokers, where they provide to their clients to offer retirement planning help, tax tips, and guidance on which investments to buy or sell. But they demand an amount from your investment as a commission. Discount Broker: A Discount Broker primarily works to help you place orders to buy investments at a very low cost. They allow you to do it yourself at minimal cost through their website and offer support online, by phone, or in a branch.

How Invest Stock

Step1: Open a Brokerage Account As I already explain to you types of brokerage account and work of brokerage account. It is up to you which type is best for you. If you already retire or near to retire or don't want to handle the complex "stuff" like managing your wealth in a tax-efficient way then a Full-Service Brokerage account is best for you. Before Choose a Brokerage account you must compare, who provide Little or Zero Commission account, What type of features are Provide, Is Stock Chart Platform is good for you or not. Fyers Brokerage:- Rs.0/Delivery, Rs.20/All Other Segment Open Account Upstox Brokerage:- Rs.0/Delivery, Rs.20/All Other Segment Open Account Step2: Select Stock You Want to Invest Select a Stock is depends on how many days you want to invest in a stock. In general investment in the stock market is 3 types. Longterm investment, Short term, and Intraday. In longterm investors once buy a stock you carry stock for more than 1 year. For this, you must research company background, management, annual reports, order details and many more. In the short term, investor carries stock for more than one month to one year. In an Intraday trader, you can't carry stocks more than one day means today buy today to sell. It doesn't matter you are in profit or not you must sell it. In Full Sevice Brokerage firm provide some stock suggestion depends on the time frame. On my suggestion it is better you study some stock and invest in it. Step3: Decide how many stocks to buy It completely depends on you how many quantities of stocks to buy, no one pressure on you. If you start to invest newly in the stock market it is better to start with small quantities. Don't think that invest all money in a single stock, If the stock price is double then your invested money also double, it happened, but what if that stock not performed well and the price goes to half, then you lost a big amount of money or maybe lost all money. Always remember to start with small and invest timely or Price dip or as per your Technical and Financial Analysis. Step4: Choose Stock Order Type

Before start buying stock need to know what are different orders available to buy a stock. Market Order In Market Order, your buy or sell order is triggered at the best available price. Ex- If you place buy order 100 stock on XYZ stock, stock available 50 stock on 100.10 and another 50 on 101. you buy a stock at 2 prices whatever price is available. same on sell-side also. Limit Order In a limit order, your buy or sell order is executed at a particular price that price you place at the time of order. Ex-One stock current price 100 and you want to buy at 102. till stock not reached 102 your order is not executed. Stop or Stop-loss order A stop order also referred to as a stop-loss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order. A buy stop order is entered at a stop price above the current market price. Stop Limit Order Stop-limit orders are a conditional trade that combines the features of a stop loss with those of a limit order to mitigate risk. You may find some other different order provided by your broker. but these are basic. After choosing a stock, Investment time frame, type of order, and quantity of order then place your order.

Conclusion

Investment in stock is not a simple task. The main work is choosing the right stock for your investment. Other things are managed by a Stockbroker like placing an order, investment platform. Whatever I try to explain how to invest stock is a piece of very basic knowledge. I hope you find your solution what you searching for. If you love this article share it with your friends and family on social media.

Frequently asked question

How much money need to buy a stock? It depends on are you, investor or trader. If an investor buys 10 stocks on $100 then need $1000. If you are a trader as I mention the stockbroker provides a good amount of exposer you start with $10. How can I buy stock on my own? There is two way to buy stock through a broker easiest one and you can buy direct through the company. What is the cheapest way to buy a stock? You buy stock cheapest way through a discount stockbroker. Most discount brokers provide research on stock, daily report and some other feature like a full-service broker. so they apply less commission. What happened after buying a stock? If you sell a stock after buy you have two cases either profit or loss. let's say you buy a stock at $10, sell at $20 you are in $10 profit. If stock fall to $5 and you sell at that time, your loss $5 as simple. How many stocks should I own? There is no thump rule that much stock you must have. between 10 to 20 otherwise, it difficult to manage your portfolio. More Related Articles How To Calculate ROI How To Calculate Profit Margin How To Capture The Attention Of The Online Home Buyer How to Choose Best Web Hosting in Cheap Price Read the full article

#Finance #Invest #Stock

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michaelbennettcrypto · 5 years ago

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Chinese Media Warns of Companies Fraudulently Claiming Blockchain

Chinese state media has reported that local companies seem to be claiming to be using blockchain technology to boost their stock prices. Multiple firms have made statements saying that they are exploring blockchain technology. However, only a handful can prove it.

The report is reminiscent of previous incidents outside of China. During the culmination of the 2017 bull run, companies enjoyed spectacular stock increases off the back of a supposed interest in blockchain technology.

The Hottest Tech in China: Blockchain Endorsement Inspires Fake Company Claims

According to a report in Chinese publication Global Times, the state-owned Xinhua News Agency has warned against companies fraudulently claiming to have adopted blockchain technology. More than 500 of the over 3,000 listed companies say that they are using or working on blockchain systems. However, only 40 of them can back up their claims.

Speaking with Global Times, an adviser for the China Securities Regulatory Commission, Dong Shaopeng, said that companies making such claims fraudulently could face reprimands from stock exchanges, including fines and delistings.

The apparent explosion in blockchain activity in China follows the government officially endorsing the technology last month. NewsBTC has reported on numerous developments in the nation since president Xi Jinping made statements encouraging the adoption of blockchain tech in October.

The Chinese media report is reminiscent of the case of Long Blockchain, formerly Long Island Iced Tea. In 2017, the latter company rebranded, claiming to have switched focus from beverages to blockchain. Its stock price immediately soared on the news.

However, it was revealed that the company had made little progress towards its blockchain ambitions. Later still, it was delisted from the Nasdaq stock exchange, before being branded a “pump and dump” scheme by the FBI.

The agency discovered that two individuals profited massively by trading the rebrand. The pair were previously under investigation for securities fraud involving another company, Kelvin Medical. Information linking Oliver Lindsay and Gannon Giguiere to Long Blockchain was found on an iPhone seized as part of the Kelvin Medical case.

Although there are large numbers of companies lacking evidence supporting their claims to be exploring blockchain technology in China today, there are many examples in which Chinese institutions and firms are indeed adopting the technology. The sudden state-level interest has prompted some in the cryptocurrency industry to claim that the endorsement is bullish for all things blockchain – including digital assets like Bitcoin.

The #XionganNewArea in North China's Hebei Province will set up a blockchain lab to incorporate the technology into the city’s fabric. https://t.co/VNt6eMyfTq pic.twitter.com/K8TTv9qu3m

— Global Times (@globaltimesnews) November 18, 2019

Despite its new found interest in the technology underpinning them, the Chinese government is clearly much less keen on decentralised, public cryptocurrencies. It was repeatedly warned against public speculation on digital assets. In a report published last month, NewsBTC’s Tony Spilotro speculates on why the nation’s apparent new love of blockchain might not pan out so well for cryptocurrency after all.

Related Reading: Analyst: Bitcoin Price Can Reach $50k On Macroeconomic Uncertainty

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