SEC May Evaluate Penny Stock Listings

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Sources tell FOX Busi­ness’ Char­lie Gas­pari­no that the list­ing of pen­ny stocks allows trad­ing of spec­u­la­tive shares on plat­forms like Robin­hood and Schwab. The Secu­ri­ties and Exchange Com­mis­sion may soon be reeval­u­at­ing the list­ings stan­dards of major exchanges in a move that could bar the Nas­daq and the New York Stock Exchange from list­ing spec­u­la­tive pen­ny stocks, accord­ing to peo­ple with knowl­edge of the matter.The SEC — also known as Wall Street’s top cop — has long clas­si­fied as pen­ny stocks any share that trades below $5, and accord­ing to the com­mis­sion, “these com­pa­nies may have lit­tle or no earn­ings” and are ” …

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