OldTymer, I have to respectfully disagree with your definition of a pump and dump. I as well have been trading stocks for a long time, from pinks to bb's to large caps. I also am very familiar to the would of pump and dumps, promoters, etc.
What BANI was I feel a well executed stock promotion, The difference between stock promotion and pump and dump is very simple. A promotion gives people a chance to get in, get out, and make money. A pump and dump gives only the "promoter or company" a chance to make money.
For example I remember getting my first email on BANI January 28th, and another on Jan 29th and Feb 1st all through out. BANI hit its high on February 9th.. Giving investors nearly 2 solid weeks to play this stock take profit and get out. After 2 weeks with the stock up 700%+ percent now BANI dips. I don't call this a pump and dump because the tens of thousands of investors who where told above BANI in that 2week term, every one of them could of made money. Making BANI a great promotion for the company, who ever put it on and the hundreds of investors who did make money.
Now to clarify pump and dump for all you investors who think BANI was a pump and dump... MGRN prime example I got an email for this stock over the weekend of January 18 and 19th.. Monday morning comes, it gaps up with a ton of volume and start to fall apart within 15min of market open..no one had a chance to make any money on this stock as by the end of the day it closed down some 70%.. Classic pump and dump..no one made money but seller and promoter. IDGC another 2day pump and dump machine where it lasted only 1.5 days before it crash.. These are pump and dumps BANI.. bani was a great trade where a lot of people made a lot of money.. The people who got stuck in BANI just got to greedy or don’t know how to read a chart that says WAY OVER BOUGHT or look at percent gain of a stock over 700% in 2 weeks.
I hope no one takes offense to this post as I mean to offend no one, But I feel the term pump and dump should not be used on BANI as that is the wrong term.
