CMKX, one of the most notorious P&Ds ever. Thousands of investors taken to the cleaners on this one.
Cassavant is a true salesman. Wonder how he's doing hiding out in Canada? He was certainly successful in selling shares to almost anyone and everyone, and he even gave free shares to some knowing that it would only peak interest in folks so they would later start buying significant quantities on their own nickel. He was even reported to have visited hospitals and sold shares to the elderly and sick who were desperate to win the big market lottery of a lifetime.
CMKX paid for a race car with advertising to draw in an even bigger audience and shareholder base. I've got to admit that was a nice move.
Of course, I'd be remiss if I didn't mention the infamous alleged massive naked short share debacle, that might even be continuing to this day (haven't checked it out for the last year). Anything to distract the shareholders from the massive dilution that occurred by the company insiders and funders back in its heyday. It was so entertaining, company reps taking surveys and using statistics to try and prove a naked short, what a joke. And, then there was the infamous $3 TRILLION (yes, trillion) lawsuit against almost anyone and everyone. Another fine entry in the CMKX saga.
Oh, did I forget to mention the business CMKX was in? No, I mentioned share selling, so that pretty much covers it.
Good day to all.
I am NOT a Financial Adviser. Nothing I post should be considered financial advice. I may be holding a long, short or no position. I am NOT compensated to post on here.
