Starting this thread so we have a place to track Network 1 shady Chinese IPOs.
We have seen several very suspicious Chinese stock IPOs over the last month or so. The ones that pumped and then dumped the hardest were all brought to market by Network 1 Financial Securities. They have a whole division dedicated to bringing these companies to the market. Tickers we have seen recently from Network 1 were STBX, MEGL, and HKD/ATMD.
Thread title and body edited to remove Alopexx, Inc. (ALPX) as a Network 1 IPO. Thank you for looking into this @derfam !
I had an order in for $100. I got this message from webull this morning. Network 1 may have thought that pumping a Chinese IPO 2000% right now might get attention they do not want.
Network 1 Financial Securities Chinese IPO. High risk.
HENGGUANG HOLDING CO., LIMITED will trade under the ticker HGIA.
PRELIMINARY PROSPECTUS DATED January 6, 2023 https://www.sec.gov/Archives/edgar/data/1868110/000149315223000744/formf-1a.htm
First one in a while, it will be interesting to see if they can send one in this environment. No position, just watching as this popped up on a google search I set for Network 1 Financial.
