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Seriously? COWI is completely insolvent, yet you somehow think that this company with less than $5k in the bank and about $40 MILLION in liabilities, most of which are delinquent, will somehow solve the world's energy crisis? That is just plain stupid.
COWI is using the hydrogen angle to pump this stock so insiders and the toxic death spiral convertible holders can dump into the hype. Nothing more.
COWI is insolvent. Why lie about this when it is so obvious and PROVEN in COWI's own SEC filings?
Who are you trying to fool? No one is that stupid to believe that lie.
COWI is an insolvent pump and dump. Nothing more.
This is the FOURTH time Lloyd Spencer has pumped and dumped this ticker. Those that failed to learn the first 3 times have no excuse for getting taken this time.
Famed short seller Marc Cohodes rails against ‘sociopath’ critics and says he lost ‘a million dollars’ on AMC bet in wild interview
Marc Cohodes, having spent decades burnishing a reputation as a successful short seller, loves to crow about his prescient predictions and bets against companies that eventually imploded. And there have certainly been many.
But don’t you dare question him about his mistakes on the long side.
That is a lesson that Edwin Dorsey, founder of investing newsletter the Bear Cave, likely learned during a Tuesday interview with Cohodes on X, the social-media platform formerly known as Twitter.
Minutes into the live interview, Cohodes launched into a profanity-laden rant against Dorsey and other perceived critics, whom he denounced as “f—ing sociopaths” and accused of being “jealous of who I am and what I’ve done.” At times, his language turned threatening as he warned Dorsey that “you and I are going to settle this later.”
The tantrum was apparently triggered by Dorsey’s asking about Cohodes’s cheerleading for stocks that later cratered, including Nikola Corp. AMC Entertainment Holdings Inc. and AppHarvest Inc.
“First off, fact of the matter, I’ve never owned a share of Nikola. So, that is that. Second of all, with AppHarvest, Jeff Ubben is on the board, I respect Jeff Ubben. I bought the stock when they did the SPAC convert. It had a great story, stock flew, story changed, I told people I’m out, story changed, thesis creep is deadly, and I’m out, and that is that. Period.”
He then addressed critics of his AMC call, saying he warned people when he got out of the stock after losing “a million dollars.” He had tweeted in November 2021 that the company could be worth $200 a share.
“Was I wrong [about AMC]? Yeah. Did I lose a million dollars? Yeah. The mistakes I’ve made, and I’ve made plenty, whether it is This Can’t Be Yogurt, or Old Country Buffet, or having Goldman Sachs as my only prime broker. That kind of stuff — those are real mistakes. This other stuff is bullsh—. I lost a million dollars on AMC being long. I p— a million dollars. I’ve donated a million dollars during the last five years to charity, and then some, so I don’t need to listen to bullsh— from you or these psychopaths. Am I clear?”
To be sure, Cohodes has a record as a short seller that spans decades. He originally entered the hedge-fund business in the 1980s, working at Rocker Partners, which was later rechristened Copper River Management.
According to a profile published by Financial News, Cohodes and Copper River were poised to profit from short trades as the financial crisis was breaking out in 2008. However, their counterparty for some of these trades was Lehman Brothers, and its collapse left Cohodes’s fund unable to cash out. The troubles were exacerbated when Goldman Sachs hit the hedge fund with a margin call. Other problems bedeviled the fund, and Cohodes ultimately retreated to his farm, Alder Lane, in Northern California, where he raises chickens, according to Financial News.
He later cultivated a following on Twitter.
Over the past 18 months, his follower count has exploded. He now boasts more than 170,000, largely thanks to his early contention, in the spring of 2022, that FTX and its founder, Sam Bankman-Fried, were misleading customers and the general public. He later called on investors to short Silvergate Bank and Signature Bank, calling them “publicly traded crime scenes.”
When the sudden collapse of those crypto lenders left some retail traders at risk of losing money on a technicality, Cohodes called in lawyers and put pressure on brokerage firms to work with their customers to help them close out profitable positions.
From the archives (April 2023): ‘It says I owe $179,000’: Options traders hit with massive margin calls as winning bets against failing banks are left in limbo for weeks
Over the years, he’s made many successful short calls and bets, including against the German payments company Wirecard, Krispy Kreme Doughnuts and fraudulent Belgian software company Lernout & Hauspie, among others.
More recently, some of Cohodes’s long bets have faced criticism from some on social media, including investments in Overstock.com Inc. and battery maker Enovix Corp. Cohodes said during Tuesday’s interview that both were examples of his high-risk, high-return investing style, and that he his betting on both because of his faith in their management teams and belief in their underlying technologies.
Both stocks are up to date in 2023, according to FactSet data, with Overstock having gained 26.9% and Enovix 13.2%, although both have seen ups and downs of late.
“I do shorts and longs. And obviously people want to be critical of my longs, which I take great offense to,” Cohodes said. “I’ve put people in the ground on shorts and obviously the people in the business are jealous, and they can’t come up with anything good, so they criticize my longs.”
He went on to say: “There is a reason I have 19,000 people blocked on Twitter. I don’t need to be torn down by these lowlifes. I’m hard enough on myself.”
Over the course of the interview, Cohodes and Dorsey discussed other topics, including the difficulties facing contemporary short sellers, as well as Cohodes’s negative view on other cryptocurrency firms including Coinbase Global Inc. and Binance.
He also offered would-be short sellers a word of advice: Don’t bet against companies that are deeply entrenched, like Tesla Inc. or megabanks like JPMorgan Chase & Co. Why? Because people like Tesla’s Elon Musk and JPMorgan chief Jamie Dimon are “protected.”
“Elon is above the law. Jamie Dimon and JPMorgan are above the law. No matter what laws or rules they break, they pay their fine and move on. Goldman Sachs is above the law. [Citadel CEO] Ken Griffin is above the law.”
Neither Cohodes nor Dorsey responded to MarketWatch’s requests for comment.
Yeah, the truth hurts, doesn't it? So just ignore the one person who actually provides facts and all will be OK!
Except that all your money will be gone, of course. But I guess the warm fuzzies are more important than actually protecting and keeping your money.
So, the constant pumping without any facts (and outright lies) is perfectly fine, but the ONE person who actually provides facts on this discussion board is a POS?
Look in the mirror and ask yourself the tough questions about life.
Ah, the enduring fraud that is a penny stock MOU.
I think we are all used to seeing outrageous claims made about these MOUs which aren't worth the paper they are printed on (assuming they are even real in the first place), but $33 billion is really shooting for the moon. At some point the number becomes so large that even the ignorant and stupid will refuse to believe it.
I think that is what we have here.
EXCLUSIVE: Long Jim Cramer ETF Shutting Down — 'Jim's Stock Picks Have Been Suspect To Say The Least'
Television personality Jim Cramer has gained immense traction in the financial world over the years, largely due to his stock analysis and presence on CNBC.
In March 2023, two ETFs were introduced to allow investors to align their strategies with Cramer's insights. However, one of these ETFs is now closing its doors.
What Happened: First announced in October 2022, Tuttle Capital launched two Cramer-themed ETFs, one offering investors a way to profit from his stock recommendations, and the other to bet against his stock picks.
On Monday, it was announced that the Long Cramer Tracker ETF (BATS: LJIM) will be shutting down, with the last day of trading set for Sept. 11, 2023.
The fund will be liquidated, with assets expected to be distributed back to shareholders on Sept. 21, 2023.
The other ETF, named the Inverse Cramer Tracker ETF (BATS: SJIM), will remain open to investors.
“So we all know Jim’s stock picks have been suspect, to say the least,” Tuttle Capital Management CEO and Chief Investment Officer Matthew Tuttle told Benzinga. “We only wanted to do SJIM but decided to do LJIM to be nice and perhaps engage in a rational dialogue about his picks.”
Tuttle said Cramer and CNBC have been “unwilling to engage in dialogue” and have ignored the funds. This led to the decision that there was no reason to keep the long side going.
“Going forward we will just focus on the short side.”
Tuttle told Benzinga that he’s surprised in some ways that Cramer has been ignoring the ETFs.
“After NVDA earnings, LJIM popped, so figured maybe he’d take a victory lap.”
Cramer has been a fan of NVIDIA Corporation (NASDAQ: NVDA), going as far as naming one of his pets after the semiconductor company. The CNBC host has recommended the stock several times in 2023 and had much praise about the company’s quarterly financial results in May.
“As always, I welcome people betting against me. I have done this for 42 years,” Cramer tweeted at the time. “Those who know that you would have been betting against Apple at 5, Google since inception, Meta at $18, Amazon at $10, Nvidia at $25 and AMD at $5. I welcome all comers.”
Cramer said his stock recommendations have a solid track record, adding, “I want you to bet against me.”
While he’s been relatively quiet since the launch, investors will be waiting to see if Cramer comments on the closing of the LJIM ETF.
Tuttle previously told Benzinga that the Cramer ETFs were “years in the making.”
“Been creating since the 80s and noticed the consensus seems to be wrong a lot, but how do you monetize that.”
Tuttle said Cramer represents the consensus, since he swings at every pitch.
“That’s not a criticism, he has to.”
Tuttle told Benzinga that the consensus tends to be wrong.
Selections for the Inverse Cramer ETF are made from recommendations made by Cramer on his “Mad Money” television show, his appearances on CNBC, and his tweets.
“We’ve got to watch him. We’ve got to see what he says.”
When it comes to what’s next for Cramer, Tuttle said the CNBC host will likely continue to ignore the Inverse Cramer ETF.
“He’s probably better off ignoring and CNBC certainly glosses over his picks, even though once in a while David Faber gets in a dig,” Tuttle said.
In response to whether LJIM's exit would aid the Inverse Cramer ETF, Tuttle confirmed it would.
“Going to help SJIM as I’ve been running them as mirror images since NVDA earnings, now a lot freer.”
Tuttle, who was also behind creating the Inverse Cathie Wood ETF, now known as the AXS Short Innovation Daily ETF (NASDAQ: SARK), has more planned for the future.
“Have something big coming. Hope to file this week.”
LJIM, SJIM Price Action: The Long Cramer Tracker ETF trades at $25.79 on Tuesday, versus a 52-week range of $23.48 to $29.65.
The Inverse Cramer ETF trades at $23.93 on Tuesday, versus a 52-week range of $20.84 to $26.26.
And how does this relate to COWI? COWI is BROKE and INSOLVENT. They can't even afford a cup of coffee, much less funding any kind of research that would result in a scientific breakthrough that would revolutionize the world's energy supply! They own NO patents, and does NO real research of any kind. So how would this work - GOD will somehow drop the answers on Lloyd Spencer's doorstep? (But probably not at their office, as that is a private mailbox in a sketchy strip mall - how Lloyd fits a desk in that 2 X 2 inch mailbox I will never know).
COWI is nothing but a scam and pump and dump. They are using the illusion of being involved in carbon and hydrogen to scam investors. Period.
Uh oh. Lloyd Spencer lying again about how many shares are outstanding?
Lloyd seems to have trouble telling fact from fiction. The newly filed LATE 10-Q seems to have more mistakes in it again.
Let's start with the number of shares outstanding. The 10-Q claims that COWI has 20,756,286,962 common shares issued and outstanding as of 8/21/2023. But over at OTCMarkets, the "Transfer Agent Verified" number is different. They have it as 20,994,083,966 shares as of 8/21/2023. And no, it doesn't mean COWI retired any shares between 8/18 and 8/21. First of all, they are broke and insolvent, so they have no money to do so, but even if they did, it would be illegal. Second, such a change would be legally required to be included in the 10-Q's Subsequent Events section, but there isn't one.
Instead, it is clear that Lloyd Spencer just doesn't care about securities laws and accuracy in his filings.
Among other things...
Anyone shorting a tightly held, low float stock is just asking for getting squeezed.
Just because a stock is massively overvalued doesn't make it a good short.
Why would people buy COWI if all the "good stuff" is being moved to the spin-off company?
Buying COWI now will not result in the buyer receiving any shares of the spin-off. The record date for the spin-off shares was June 23rd. A person would have needed to own COWI as of June 23rd to receive the new shares (assuming the spin-off will even happen. Spin-offs are EXPENSIVE, and COWI is broke and insolvent. How are they going to pay for it? More toxic debt?). Buying COWI now leaves the buyer with what? An insolvent pump and dump?
None of that is true. COWI is broke and insolvent. They are not "paying down" anything. Their debt level is RISING. FAST. Interest on existing debt alone is $110K a MONTH. They can't issue enough common shares to even meet their interest payments, much less pay off or extinguish their existing debt. So, the amount they owe keeps going up, up, UP.
COWI is a very obvious pump and dump. Nothing more.
About time for what? A total collapse in the stock price?
If someone wants the spin-off company, there is absolutely no reason to buy, or even own, COWI shares from this point forward. The record date was June 23, so any COWI shares acquired after that day won't receive the Carbon Conversion shares. All that COWI will really have after the spin-off (assuming the spin-off actually occurs - spin-offs are EXPENSIVE, and COWI is not only flat-broke, they are also completely insolvent) is toxic debt. Massive amounts of toxic debt. A person could sell 100% of their COWI shares right now and still receive their Carbon Conversion shares.
And COWI hasn't explained how much of that toxic debt will go to Carbon Conversion, as that transfer may sink Carbon Conversion from the get go.
FINRA Names Bill St. Louis as New Head of Enforcement
https://www.finra.org/media-center/newsreleases/2023/finra-names-bill-st-louis-new-head-enforcement
First I have heard of it. I didn't bother with graphics as the image gallery was just too damn clunky.
Buyout? Hahahahahaha!
Keep dreaming.
What's a "looser"?
Correct, "thus far"? No, correct, PERIOD.
The stock is worthless. PERIOD. That will never change. PERIOD.
Anyone claiming otherwise has no clue what they are talking about. They are making it all up. PERIOD.
No doubt VinFast is another case of some investors creating a bandwagon out of nothing and then seeing the not so smart jumping on what they created.
There is an entire group of investors who seek out the low float/hot story stocks. They buy them up early and then go to Reddit, Twitch, etc. and hype them up. The stupid are the ones who jump on them when they are already outrageously overpriced, and then make them even more overpriced.
When the float is that low, and the stock so tight, it doesn't take much to make it soar. They did it with the Chinese IPO's until the SEC and FINRA started to actively investigate, so now they have moved on to other targets.
Some of these "influencers" are just individual investors, but I think there is an organized syndicate that does most of the heavy lifting. The SEC seems to think so, too, which seems to be the target of their investigation.
I think it is a good assumption that VinFast has been added to the SEC's list. I think that if the stock had soared a little higher than it ultimately did, it was a serious candidate for an SEC suspension which would have given them some time to sort it all out.
Timur Turlov, the founder and CEO of Freedom, posted a rebuttal on LinkedIn this morning of Hindenburg's article and short-selling of his company. IMO, it is VERY weak, and raises more questions than it answers.
"Another Hindenburg Research report has been released, this time it was dedicated to Freedom. I will not hide that it is very unpleasant when they throw mud at you, referring to anonymous sources, but I realize that this is the price that you have to pay for publicity. And the more valuable the support I receive.
I tried to answer all the accusations as honestly and openly as possible. We don't want to sweep anything under a table and say it's all nonsense. We work in one of the most high-risk regions of the world, in order to keep our business, we specifically try to work with the best employees, auditors, law firms, compliance consultants. Conscious trust based on facts is important to us.
Review of all these facts can be found here:
https://lnkd.in/d-uu_Puu
Refer to sec.gov for a separate opinion of our independent auditor. We delayed the report for more than two months for a reason, since everyone approached verification of the facts in preparing the report very carefully, the pressure was very high from all sides.
I'll try to go through the key facts briefly here for those who don't want to read the full text.
1. We closed a sale of assets in the Russian Federation on February 10. Neither I nor the shareholders of the Holding control it. The anonymous person on whose allegations the report is based, like the entire campaign around it, is our offended former employee who has worked for less than a year and understands the processes very superficially.
2. Indeed, I was included in the sanctions list by the Ukrainian authorities, like many leaders of the financial organizations that were operating in the Russian Federation at the time. We consider imposition of the sanctions a mechanical mistake, and we are working to resolve the situation.
3. Yes, we have tried to transfer some of our clients from Russia and Ukraine to Kazakhstan. We have the best compliance in the region. Work with clients that fell under sanctions was terminated in accordance with OFAC licenses. Any major financial institution faces such clients. They are in all major Western banks. The question is how do you work it out.
4. Our asset in Belize has the same sanctions compliance as in the entire Holding. We mention about this in our reporting, and the actual operation of these controls was also the subject of multiple audits.
5. As for the "drawn income" - we have fully tested all clients and receipt of all reflected income. What was reflected in the FST Belize report for 2020 as a receivable was, in fact, account balances with the upper broker, Freedom Europe.
6. The accusations of manipulating their shares are also unfounded. The majority of FRHC's clients are our shareholders. This is the reason for such a high level of concentration of trading in our shares from brokers serving our firm. In fact, they simply serve the transactions of our clients.
7. It is absurd to accuse us of buying securities of the NBRK's subsidiary. Due to the guarantees of the NBRK, KFU bonds are highly reliable and equated to the status of government securities. Inflation in Kazakhstan is rapidly slowing down, everyone is waiting for a key rate cut. The portfolio that FRHC now owns will deliver big returns.
In general, the investigators, in fact, did not discover anything new. Therefore, we do not see any panic among our clients.
Especially now with inflation.
Even Dollar Tree raised their prices to $1.25.
A lot of companies first traded OTC until the mid-1970s and NASDAQ's establishment, because the national exchanges had such high listing standards. Many companies didn't IPO and become listed at the same time.
There were also a lot of regional exchanges that did take IPO's. Boston and the Pacific Exchange both had a LOT of new, smaller companies listed there that eventually jumped to the NYSE or American.
Just trading OTC doesn't make them a penny stock by any means. Even back then.
Of all the major, household name companies whose stock MIGHT have once traded in pennies (but that again doesn't automatically make them a "penny stock") I can think of only 1. Xerox. When it went public during the Great Depression as Haloid, the stock price may have dipped below $1 and it wasn't Exchange Listed until the 1960's. But the Great Depression had a lot to do with that, and like much of the US economy, they found their financial footing due to WWII and government contracts.
Hindenburg danced around it, but it is pretty clear they are suggesting the Russian Government, or those allied with the Government, are manipulating and propping up FRHC's stock.
Certainly seems very plausible or even very likely..
Even Hindenburg is entitled to a slam dunk once in awhile.
Even so, their write-up was very good, and in much greater detail that other media outlets (I believe both Forbes and Fortune have covered much of the same ground over the last couple of years). Hindenburg dug much deeper and had more first-hand sources than anyone else has provided.
A lot of quality work went into that piece.
I am not convinced that Walmart was ever a penny stock.
It IPO'd in 1970 at $16.50. In order to be classified as a "penny stock", it would have to dip below $5 a share AND have less than $2 million in net assets.
I do not believe either one of those things ever happened, much less both of them, that would throw Walmart into the Penny Stock category, as it was listed on the NYSE 2 years later. And back then, the NYSE had much higher listing standards then they do now.
Due to all their splits since then, on a split adjusted basis, their NYSE listing price was in the pennies. But that again is the usual mistake of people who can't read a split-adjusted price chart.
The stock never ever traded in pennies.
Yeah, the usual BS spread by people who have no idea what a "split-adjusted" chart is. That old chestnut is still being floated around.
I have stories about Microsoft's IPO, but I won't post them here. It was priced at $21 and ended the day up 50%. I do not believe the stock price ever dipped below the offering price.
It isn't Microsoft they hate so much, it is Ukraine. And/or they love the Russians and Putin.
This is just one of many crazy conspiracy theories currently circulating around among fringe (both Right AND Left wing groups - perhaps the only thing they seem to have in common!) groups, no doubt being stoked by the Russian propaganda machine.
It is the usual story. People have inherent biases of one kind or another (such as not liking Microsoft or Bill Gates), know nothing of facts and how things actually work, so they are ready and willing to jump on any conspiracy theory that plays into their bias and conveniently substitutes for the truth.
Just like naked shorting and paid bashers.
Maybe you didn't know it because....it isn't true?
Microsoft was originally incorporated in New Mexico. Later, when they moved back to the Seattle area where both Paul Allen and Bill Gates were raised, they reincorporated in Washington.
Microsoft is an oddity as they remain incorporated in Washington.
Microsoft has subsidiaries incorporated all over the world. Pretty much one in every single country, as they operate in all but the usual bad actors. They have a Cyprus subsidiary, but it was incorporated there in 2002, long after Microsoft was a world giant.
I believe this myth is currently going around in certain political circles right now who want to discredit the Ukraine and the US support for them.
That is one way to stimulate the economy.
I bet the demand for Spice Bags soared last night.
That may be because Hindenburg is right - the stock is being manipulated. Most likely some actor, perhaps a STATE actor, with plenty of capital to do so.
Hmmm. It played out exactly as we predicted. Except for the timing. I didn't expect I-Hub to realize their mistake so quickly. But I guess they were surprised by what transpired, even though we long-time, experienced posters told them exactly what to expect.
I still don't think the roll back goes far enough. I still say a post on a Stock Board should, the very minimum, contain some content that is actually "on-topic" to the subject of the Board. That would eliminate all the newly allowed posts that are nothing but attacking another poster, and that seems to make up about 80% or more of the current posts. If someone wants to call another poster and idiot (or worse), I understand allowing that. But it should be allowed only in context of a post that contains something of value to the discussion, and the community at large.
But, naturally, maybe I-Hub is happy with that. It is definitely "free-flowing" and it still counts as traffic and views, even if it has absolutely nothing to do with the subject at hand.
Do you know what "solvent" means? Because clearly you don't.
COWI is insolvent as proven by their own SEC filings.
Your lies are not even plausible! The only people making money off of COWI are Lloyd Spencer and the toxic death spiral convertible holders, as they convert into common shares at a 50% discount to the market price. As long as they have brain dead idiots buying their stock from them, of course.
COWI is filing late AGAIN! They file late more than they file on time, but what do you expect with Lloyd Spencer in charge. This has been his usual modus operandi for years.
What are the chances they will file in the extension period of 5 days? Not very good.
COWI again probably can't pay their consultants who prepare the financials and 10-Q, or the auditor to review them. COWI is insolvent and doesn't have enough cash for a cup of coffee, much less for a 10-Q.
Are they going to hit up the toxic death spiral convertible lenders for more cash, or just stop filing with the SEC altogether?
COWI investors are great at ignoring facts. They have lots of practice ignoring that COWI is completely insolvent, the toxic death spiral convertibles are flooding the market with new stock, and Lloyd Spencer continues to pump and dump this ticker with new bogus stories and projections, none of which come true.
COWI is insolvent.
Let's look at the FACTS.
As per the latest 10-Q (the next 10-Q is due TODAY - what are the odds that COWI actually files on time, or at all?):
Current Assets - $8,253
Current Liabilities - $33,492,604
Can they pay their obligations as they come due? NO. They just pile on the unpaid, and mostly overdue and in default, liabilities.
That means that COWI IS INSOLVENT.
People should actually try reading COWI's SEC filings.
https://www.sec.gov/edgar/browse/?CIK=1156784&owner=exclude
They paint a very ugly picture that should scare away anyone with any intelligence whatsoever from giving their money away to Lloyd Spencer and the toxic death spiral convertible holders who continue to pump and dump this stock with less than honest news releases and projections that never come true. But this isn't new - Lloyd Spencer has pumped and dumped this stock THREE times before, all with he bogus news releases and projections, just to enrich himself and the toxic funders.
COWI is an insolvent pump and dump on its FOURTH round. How do they keep finding investors dumb enough to ignore the history and the FACTS and buy this worthless POS?
No lies here. Just FACTS.
COWI's own SEC filings prove they are insolvent.
FINRA's short interest data shows no one is shorting COWI for profit.
FACTS.