Penny Stonks: We’re all going to the moon with diamond hands

14% of global wealth ($35t) has been wiped out as of this weekend.

For context, that is fucking insane, full stop period. A recession is inevitable.

$3t still has to be pulled out of the economy to reverse QE. So much hurt to come.

Wealth destruction is really scary to watch unfold.

Always remember it's not realised. The problem is when people take out stock loans against those assets. But really it isn't that important. After all that free money during the pandemic we needed some belt tightening to combat the extreme inflation. There is so much capital available right now so regardless the economy will bounce back.

By Lunatic Go To PostAlways remember it's not realised.

Yep, hopefully when we retire the market is on a upswing instead of what we're seeing now. So much of this is also luck.

Capital is waiting on the sidelines right now, a shit ton of it too, they're just waiting for the right signals to buy in. Public markets have already corrected with a room for more correction, private markets/credit markets and (though unlikely) real estate is next to correct. Everyone is going to suffer when the credit markets take a U-turn, the credit debt joe 6-pack carries is at ATHs.

CEO of MJWL and ICOA ( same person) is being investigated by the Canadian authorities for insider trading and price manipulation. Both tickers opened at -99%. Currently down around -75%.
Fucking yikes, I've been eyeing mjwl for months but they had red flags if you dug a bit deeper regarding the acquisition of pcex member.

By Kabro Go To PostCEO of MJWL and ICOA ( same person) is being investigated by the Canadian authorities for insider trading and price manipulation. Both tickers opened at -99%. Currently down around -75%.
Fucking yikes, I've been eyeing mjwl for months but they had red flags if you dug a bit deeper regarding the acquisition of pcex member.

Wasn’t just MJWL that went CE

https://www.globenewswire.com/news-release/2022/05/16/2444109/0/en/Majic-Wheels-Corp-Official-Company-Statement-Regarding-Caveat-Emptor.html

Yep. You can only buy on Charles Schwab. Now.
Even if the CEO was found no wrong doing, the optics is on par for OTC stocks. So much scams going on.

By Kabro Go To PostYep. You can only buy on Charles Schwab. Now.
Even if the CEO was found no wrong doing, the optics is on par for OTC stocks. So much scams going on.

Igex diluted today and pumpers are having slap fights

The Securities and Exchange Commission today charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did.

In late January 2021, many brokers restricted investors’ ability to purchase a group of highly volatile stocks generally known as “meme stocks.” According to the SEC’s order, on January 28, 2021, TradeZero was instructed by its clearing broker not to allow its customers to purchase three meme stocks. TradeZero ultimately halted purchases for about 10 minutes. After the halt, TradeZero and Pipitone made misleading public statements via interviews, social media, and in a press release in an effort to distinguish their company from brokers that restricted trading during that period. For example, in a Reddit “Ask Me Anything,” Pipitone said, “That some trading firms are blocking these symbols is disgusting, unprecedented… Our clearing firm tried to make us block you and we refused.”

"This case sends a powerful message that participants in our capital markets cannot exploit market turbulence to deceive customers," said said Melissa Hodgman, Associate Director of the SEC’s Division of Enforcement. "The SEC has been committed to ensuring that our capital markets continue to function in times of uncertainty, and today’s action highlights this commitment."

Actually I'm pretty sure they can, as this case demonstrates