Mar. 21 at 3:38 PM
$GPUS In my opinion, Webull is not causing the reputational harm. The CEO is doing that himself. Webull is protecting clients, managing risk, and limiting liability. If Ault loses, as I think he will, that only hurts his reputation more.
These are not government agencies. They are businesses, and they have the right to decide what they will allow. Every broker has restrictions, and this is no different. If the company was better managened this wouldn't be an isssue.
I only wish the S.E.C. were more protective.
"9. Thus, Petitioner is informed that Webull has responded to inquiries concerning this
trading restriction by stating that: “This security has been restricted from new purchases by our
clearing firm’s risk team. This occurs when a security exhibits a pattern of repeated reverse splits
or complex corporate actions that present elevated volatility and settlement risk. As this decision
is made solely by our clearing firm, we are unable to modify or override the restriction on our
end.”
