This was clearly a pump and dump. I've never witnessed a pump and dump before but this one was interesting. I received nearly daily phone calls (for two weeks) from a group claiming to be Wall Street Active. They claimed to be trying to help me catch a run that was going from $1 to $5 and they assured me over and over again that I’d be getting in early. They claimed that they were doing so because I was a valued client. They wanted me to invest ASAP and to let them know exactly when and how much. Better yet they wanted to help me lock in a block... When I mentioned that I’m not a client they claimed that they want me to be and this investment will show me how good they are at picking winners. ROFL, when I tried to find out the reason why the stock had tanked before they mentioned lockup expiration, insiders taking a few gains, nothing to worry about, etc... All they wanted to point to was two weeks of continuous gains and how that was the new trend... This thing always smelled of pump and dump so I told them I’d track the stocks progress and might invest in their next recommendation if this one went well... At that time the stock was trading at $1.05 and they still claimed it was just the beginning.
I’m certain that the same people who pumped also went short right before the dump. A stock doesn't fall that fast and that hard without a lot of assistance. FYI, the group that kept calling kept saying that they would call with a sell recommendation the minute the start was starting to peak. They called on the day of the sell off, with the price around 65 cents, to say that the founder was now selling shares and investors should too... No apologies for trying to take my money... Simply a call to say it was time to get out ASAP when the prior call was to buy some ASAP... It simply goes to show you that one should never accept tips from strangers.
FYI, the number they called from was 877-551-4436. If you were taken by this group then you might want to give that number to authorities as a starting place for determining who profited from the pump and dump.
