The SEC has suspended stock trading for Smart Digital Group and QMMM Holdings due to potential price manipulation. Both companies announced plans to invest in crypto, prompting suspicious social media posts that may have manipulated the market. The SEC will suspend trading until Oct. 10, as both companies recently revealed crypto treasury strategies. QMMM’s stock rose 959%, while SDG’s plummeted 87% after their announcements. Suspicious social media activity suggests a coordinated effort to influence stock prices, similar to memecoin pump-and-dump schemes. Financial influencers also promoted QMMM and SDM, using tactics reminiscent of crypto scams to manipulate the market.

Read more at Yahoo Finance: SEC Suspends QMMM Shares Amid Suspected Manipulation