Yet Another Penny Stock Site Scamming People… PennyStockEarnings.com

As usual… their website does NOT state this on  the front page… only on a disclaimer page (and way down at the bottom):

PennyStockEarnings com … “receives compensation from, andits owners, operators and affiliates may hold stock in, the profiled companies, there is an inherent conflict of interest in PennyStockEarnings.com statements and opinions”

Of course there is, but they do not want you to know that.

Be careful out there – stick with only UNBIASED penny stock information and research.

 

SEC and Justice Dept Investigate Firm Over Penny Stocks & Laundering

U.S. regulators are investigating  Oppenheimer Holdings for money laundering, penny stock sales and failure to supervise a broker that is no longer with the firm.

In March, the SEC and the Justice Dept. charged Vladimir Eydelman with securities fraud. Eydelman had worked for more than a decade at Oppenheimer in New York City, before leaving in 2012.

 

Penny Stock DigiPath Skyrockets; Management Issues Press Release

DigiPath LogoDigiPath, Inc. (OTCBB and OTCQB: DIGP), a digital pathology solution provider that is expanding into the cannabis testing and education markets, announced today there has been no material development in its business and affairs not previously disclosed or, to its knowledge, any other reason to account for the recent unusual market action.

“We have noticed unusual price and volume increases for our securities over the last three trading days,” said Steve Barbee, CEO of DigiPath. “While we appreciate the increased attention DigiPath is receiving from the market, we are unaware of any corporate developments outside of those previously disclosed in our filings with the Securities and Exchange Commission that would explain these increases.”

The stock closed at $0.51 on Friday, July 25 but after opening at $0.55 on Monday, July 28, it traded as high as $6.00 per share and finally closed at $2.50. That day, it traded over 400,000 shares but averages less than 20,000 shares traded daily (previous 3 months).

We have not yet seen any websites or newsletters that have pumped the stock; and seen nothing more than message boards and traders taking advantage.

This again highlights the need to follow only unbiased penny stock picks and penny stock newsletters as most are either paid to pick a stock or own shares and are actually selling when telling you to buy!

Stocks Down on Europe and Argentina Concerns

U.S. stocks were down on Thursday, with investor sentiment down as well. A drop in European inflation and the second default in a dozen years by Argentina furthering concerns.

Euro-zone inflation declined this month, confirming the European Central Bank’s worries that the European economy is not healthy enough to support higher prices.

Domestic data showed weekly jobless claims coming in slightly above expectations, but the four-week moving average still was positive overall.

Cynk, the Penny Stock that was, trades again

The Belize company with a stock price that went from 6 cents a share to over $21, washalted by the SEC. It fell to $2.10 on Friday, its first trading day after a 10-day suspension.

Cynk shares bounced between $1 and $2 a share.

At one time, the market capitalization rose to $6 billion. Technically not a “penny stock” at that time.

 

Stick with real companies, truly unbiased penny stock picks.

TUESDAY – U.S. stocks declined on Tuesday, pulling the Dow under 17,000, as the United States and European Union joined in expanding sanctions against Russia, highlighting a geopolitical crisis that overrode investor enthusiasm for earnings from corporations including Merck & Co.

“Investors are clearly hyper-sensitive right now to things happening in Europe and Russia, and whether it’s worsening or not,” said Dan Greenhaus, chief global strategist at BTIG.

In a statement televised live Tuesday afternoon, President Barack Obama said the United States was expanding on measures announced two weeks ago, targeting Russian energy, defense and financial sectors as Russia has continued to support separatists in the Ukraine, and was still building up forces on its own border with Ukraine.

Obama’s statement followed European Union governments that announced sanctions earlier in the day to reduce Russia’s ability to tap into bank financing and advanced technology.

Stocks Off Lows, But Dow Still Down

U.S. stocks declined on Friday despite positive economic data as weak Amazon earnings and concerns over continued unrest in Ukraine and Gaza weighed on markets.

“The percent of stocks above their 50-day moving averages isn’t a vast majority, so the divergences within it tell you the that markets might want to consolidate a little bit,” said Art Cashin, director of UBS floor operations at the New York Stock Exchange. “So I think certainly for now they want to rest a little.”

Orders for long-lasting U.S. manufactured goods rose more than expected in June, pointing to momentum in the economy at the end of the second quarter. The report did not move markets in pre-market trading.

“The markets are looking a bit tired,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “We’re headed to a very busy week of economic data.”

The Federal Open Market Committee meets next week, and economic data reports include second-quarter GDP and U.S. employment figures.

Cynk: The $6 Billion Penny-Stock Debacle (Another ‘AwesomePennyStocks.com’ Scam)

Cynk Technology (CYNK), a company with no assets, no revenue, and one employee, for one hour in July had a market value of more than $6 billion.

Cynk had started trading in 2013, for a few pennies. That was until June 17, 2014, when shares that were at 6¢ jumped to $2.25.

In filings with the Securities and Exchange Commission, Cynk lists its offices as the The Matalon, a six-story glass building in Belize City, Belize – Suite 400. There is no Suite 400. The building manager says the company has never had an office there. There aren’t any $6 billion companies in Belize.

One of the biggest boosters tied to Belize, AwesomePennyStocks, was able to stay anonymous until the Bugatti- and Lamborghini-driving 26-year-old behind it was sued in March by U.S. regulators. He settled on July 7 for $3.6 million without admitting the allegations.

Cynk: The $6 Billion Penny-Stock Debacle

 

Shailesh Shah pleads guilty to stock scam

WASHINGTON, DC: The CEO of two publicly-traded companies in the US, Shailesh Shah, was convicted on charges that he paid kickbacks in return for purchases of his companies’ stock.

Shah, 48, of Chino, Calif., pleaded guilty before U.S. District Judge Richard G. Stearns to two counts of mail fraud and two counts of wire fraud, according to a press release issued by the FBI. His sentencing is scheduled for October 23 of this year.

Shah was the President and Chief Executive Officer of SOHM, Inc. and Costas, Inc.