Interactive Brokers has just issued a second list of garbage stocks on which it is radically raising its margin requirements. The first list was discussed here. The names on this new expanded list are:
ALN AOB AXN CADC CBP CBPO CFSG CJJD CNAM CNGL CNIT COGO CPHI CPSL CREG CSR CTFO CWS CXDC HGSH HQS KEYP KGJI LLEN LPH NFEC SBAY SCOK SHZ SPU SUTR TBV THTI TPI WUHN WWIN
CFSG, CPHI, LLEN, LPH, and SHZ are all G. Michael Bennett companies. The CEO of CFSG serves on the board of WUHN.
SCOK was the subject of scathing articles by Chris Carey. Read them here and here. SCOK features the odious Bryant Cragun, as well as R. Gordon Jones, a banned accountant (shades of Crane and G. Michael), and Richard Molinsky, formerly of DH Blair, as investors. Read about Cragun here and here. Read about Jones here. Read about Molinsky here and DH Blair here.
So many names, so little time…