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Friday, March 12, 2010 3:52:38 AM
I was doing some DD on another stock & ran across 'this' oddity (*see links) as a glaring example of the failings of Pinksheets in living up to their ethical mantra....and, this isn't the only one I've seen like this.
Note the fact that PS has this companies stock rated as a premium"PS Current Info"
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=Fflb
Even though this company has been out of business for 3 1/2 years now:
http://www.fdic.gov/news/news/press/1996/51.html
On top of that; Pinksheets shows ongoing quotes for this stock...currently they show .0004 X 1.05 (put a 'Market Order' in on this & you're in a 'world of trouble'.
For the average investor , all this PS info would indicate that there is actually a going concern operating under this ticker yet , further diligence proves that premise dead wrong. If PS is 'that' far off on this one , how can any credence be given to 'anything' they rate ? If anything , they appear to be 'adding' to the problems......people are 'trusting' the PS ratings....surely a mistake , given this example.
Just yesterday , somebody bought 300 shares of this , driving up the price 6,566.67% (*a very suspicious trade in itself , given the low volume....looks like some creep is trying to make this look 'attractive' based on a single $60. dollar phantom trade). I copy/pasted this from the eodata.com website:
FFLB Fairfield First Bank & Trust Co 0.2000 0.2000 0.2000 300 0.1970 6566.67
http://www.eoddata.com/Stocklist/OTCBB/F.htm
On top of all this; Just WTF is w/our SEC & DOJ that they allow these kinds of things to go on anyway...and...who's pocket is this going into.......it's a Dead Company , it No Longer even Exists yet , somebody is still making money off of it.
As if it wasn't hard enough already to pick a winner , there's a 'lot' of this kind of stuff going on out there! Always cross-check the bejesus out of unknown stocks before dropping a dime on it.
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