- BusinessFinancial Times
US suspends trading in penny stock as regulator sharpens gaze
US securities regulators on Thursday suspended trading in a seemingly defunct company whose shares had attracted the attention of investors over the past two months. The decision by the Securities and Exchange Commission to bar trading in SpectraScience, a Minnesota healthcare company, comes as new and inexperienced retail traders have flooded into the country’s $45tn stock market, drawing scrutiny from policymakers in Washington. The SEC said social media accounts may have been used in a co-ordinated attempt to “artificially influence” the share price of the company, which does not have a working phone line or website and has not filed quarterly financial results since 2017.