NWBO Stock: Citadel Chooses to Profit from Cancer Drug Company
NWBO stock alert: Northwest Biotherapeutics sued Citadel and other market makers for manipulating its stock price in December of 2022.
Ken Griffin’s Citadel has chosen to profit from the US cancer drug company through the means of short selling, a practice the hedge fund/market maker is notoriously known for.
Northwest Biotherapeutics accused Citadel Securities LLC, Susquehanna, Virtu, and other Wall Street firms of driving its stock price down through the use of various illicit trading activities.
One being ‘spoofing‘ orders.
Spoof orders are orders intended to be cancelled before execution to drive prices in a direction more favorable to the market manipulator.
The lawsuit comes as no surprise to the retail community as Citadel has a long history of market manipulation.
Northwest Biotherapeutics, Inc. is a biotechnology company, which engages in the development of personalized immune therapies for cancer.
It offers DCVax technology platform, which uses activated dendritic cells to mobilize a patient’s own immune system to attack their cancer.
Why Ken Griffin’s Citadel Securities would attack a cancer drug company for profit is beyond comprehension.
But the fight against naked short selling grows as more companies begin to take legal action against these predatorial practices.
Other Companies Taking Action
Global Tech Industries Group, Inc. (OTCMKTS:GTII) has taken legal action against naked shorts.
The Nevada corporation announced that its board of directors has authorized management to move forward with appropriate legal action in connection with what it believes to be illegal trading activity in the Company’s shares.
Global Tech’s press release published the following statement:
“It appears that certain market makers have failed to post regular or continuous proprietary quotations that are at or near the market on both sides and that are communicated and represented such that they are widely accessible to investors and other broker-dealers.
When market makers fail to meet this requirement, as well as other applicable requirements, it can bring into question whether they are engaging in “bona fide market making” and can avail themselves to any “locate” exemptions afforded to bona fide market makers when executing short sales.”
$GNS, $MMTLP, and others are taking regulators and market manipulation head on in a string of lawsuits.
CEO of Genius Group ($GNS) Roger Hamilton is leading a first-ever team of CEOs to fight against naked shorting.
The CEO said on Twitter that other CEOs $NWBO, $GTII, $MICT, $COSM, $CRTD, $MMTLP, $TRCH, are taking legal action with Wes Christian, a lawyer who has been investigating stock manipulation since 2000.
Related: Investors Say CEOs Should Fight Naked Short Selling Like GNS
NWBO Stock Price Today
NWBO stock is down -5% this year-to-date and down -28.76% in the past year, currently trading at $0.68 per share.
Majority of the company’s float is being shorted with approximately 34.29 million shares out on loan according to Ortex data.
It’s cost to borrow isn’t very high, which makes it an easy stock to short.
Should a stock like Northwest Biotherapeutics fall victim to predatorial short selling?
Investors are calling the practice unethical as the company aims to develop immunotherapies against different types of cancers.
Be sure to read this incredible synopsis on $NWBO written by a community member on Reddit.
It doesn’t get deeper than that.
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Comments are closed.
It’s the people in Gov who allow this to continue Congress giving Finra the Self Regulating Org is only a green light to steal. as for Hedges attacking drug cos
A prostrate cure gone because HFs shorted it to bankruptcy is not in anyone’s interest except a greedy 1% when does the killing start its almost as if they are poking a rabies infected dog keep poking your gonna get bit
I’m gonna sit and laugh if greed of some has people really fighting back if the Gov or regulations are not enforced but to sit back and allow any criminal act Wall st comes up with
I think – as many others – that it is the lowest of lows and could explain why Citadel had a $65 billion ‘Securities Sold, not yet purchased’ liability on their 2021 financial statement.
https://piousbox.com/2022/12/understanding-citadels-65-billion-in-securities-sold-not-yet-purchased-filing/
But congratulations to all employees who went to Disney paid by Citadel, while a small biotech, that is now on the brink of revolutionize cancer treatments – especially with interim data from two combo trials showing between 50-65% efficacy against brain cancer – now trade at around $0,68 a share, instead of currently a fair price of around $5-7.
How can SEC, DOJ whatever … live with this?
What are your thoughts on Citadel, Virtu, and others manipulating a cancer drug company’s share price for profit?