First time Pump & Dump subject, MAGE took traders for a scary ride, typical for Stock Mister solo efforts. 98% of trades were overpays*, thanks to a 920% gap up to the 51 cent high of the day that was reached less than two minutes after trading started.
That bouyed those that believe in fairy tales and the next several minutes was spent with insiders finding buyers in the .30s and .40s.
Those blew their wad just before 10:00 am, but there were plenty of suckers buying stock in the .20s over the rest of the morning.
Predictably, though, by the time lunch was over, insiders and pigeons alike were taking what they could get and shares dropped better than 80% from that lofty high. When the dust settled, traders were worth $114K less than they were at the start of the day, making them the biggest losers of the day.
Be careful out there!
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