by Wolf Richter
Wolf Street
“We’re in an industry that has high valuations.”
How stock market jockeys could be this stupid has boggled our minds for years. One thing we know: it doesn’t matter as long as stocks soar.
But when a stock suddenly dies, after having dutifully contributed to Ben Bernanke’s “Wealth Effect” miracle, the occasional regulator might step in and tell these folks: “How could you?!” And this is what happened today.
The SEC announced that it “temporarily suspended trading in the securities of NERO,” the ticker symbol for NeuroMama, whose shares are traded over-the-counter in the Wild West of US stocks, where just about anything goes, even more so than normally.