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The Securities and Exchange Commission urges the Department of Justice to implement civil and criminal forfeiture against Abra Mining, its officers, and its stock transfer agent
The penny stock’s surge showcases the extremes to which the retail mania has reached in the Philippines, home to one of the world’s worst-performing equity markets this year. MANILA: Abra Mining & Industrial Corp has no revenue and zero analyst coverage. Yet, the loss-making mining company’s stock has more than doubled in 2021 and is also the most-traded name in the Philippines. The penny stock’s surge showcases the extremes to which the retail mania has reached in the Philippines, home to one of the world’s worst-performing equity markets this year. Discouraged by the decline in th...