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Started By
Message
How Has The SEC Allowed So Many Obvious Scams?
Posted on 7/1/20 at 9:32 am
Posted on 7/1/20 at 9:32 am
Looking to invest between $1-5K in a high risk low price stock and basically forget about it. I completely understand that nothing is guaranteed and I could lose all or most of it and I'm fine with that. While researching, I see there are a large amount of extremely highly diluted stocks from companies that are pushing out great publications. Millions of dollars in contracts received, etc. Upon further research it appears that the contracts these companies are reporting are coming from related companies and it's all just a scam. Basically they create two companies and use one to generate news that they are planning to do millions of dollars in business with the other(s). It's an obvious scam. Upon even further research, many of these companies have common board members/'executives' meaning in many cases it's basically the same people pushing these massive obvious scams. Why does the SEC allow this to take place?Seems like a light investigative effort would expose these multiple scams and help clean this up a bit, but these folks are just running these scams wide open with no apparent ramifications. Do your research folks! So many scams and the SEC does very little to stop it.
12
Posted on 7/1/20 at 9:38 am to DaTroof
The SEC is a facade.
Posted on 7/1/20 at 9:38 am to DaTroof
quote:
Looking to invest between $1-5K in a high risk low price stock
Penny stocks?
quote:
Upon further research it appears that the contracts these companies are reporting are coming from related companies and it's all just a scam.
Which index are the securities listed on?
quote:
It's an obvious scam. Upon even further research, many of these companies have common board members/'executives' meaning in many cases it's basically the same people pushing these massive obvious scams.
quote:
So many scams and the SEC does very little to stop it.
Can you provide some examples?
Posted on 7/1/20 at 9:53 am to Azazello
quote:
Penny stocks?
Yes, I'm looking for a long term investment that is understandably high risk but I am doing as much research as I can prior to investing.
quote:
Which index are the securities listed on?
I'm researching OTC stocks and trying to find a legitimate company to invest in but keep running into obvious scam after obvious scam.
quote:
Can you provide some examples?
Look at SIML. Obvious dilution scam that came out with a multi million dollar contract publication a few days ago and the stock tanked. They have now published more 'news' today. I assume they plan to dump again once naive investors load up. The 'contracts' are coming from related companies with shared executives. They are pushing out fake news of business from a related fake company then dumping the stock or reverse splitting multiple times then diluting again. It would be one thing if this was isolated to this one company but I have found many examples of this. The OTC market is flooded with these obvious scams.
ETA: Multiple reverse splits should be an obvious indicator of these scams. The SEC is openly allowing multiple reverse splits for obvious scams. Also, stock charts should be mandated to show where reverse splits occurred. Otherwise it looks like the stock did great several months ago when it was really just a reverse split scam. Look at SHIP as a good example of this recent scam strategy.
This post was edited on 7/1/20 at 9:57 am
Posted on 7/1/20 at 9:57 am to DaTroof
I feel ya bruh... It's a crap shoot. I've been sticking to mutual funds, ETF's and the big boys...
Posted on 7/1/20 at 10:19 am to cwill
Like the COMEX, it is corrupt and a criminal operation. Since 2008, Wall Street, the banks and corporate welfare socialists have gotten 10s of trillions in $$ to keep their corrupt ponzis going and right now, the manipulation is in hyperdrive.
Posted on 7/1/20 at 10:21 am to DaTroof
I got caught in a pump and dump with IZEA a few weeks back, the stock was halted for 5-10 minutes and I lost $1,000 (25% of my portfolio) in that span.
The CEO had stated massive PR news about multiple partnerships with Fortune 500 companies with one being in the Top 10 hinting at Amazon....
frick Ted Murphy for life
The CEO had stated massive PR news about multiple partnerships with Fortune 500 companies with one being in the Top 10 hinting at Amazon....
frick Ted Murphy for life
Posted on 7/1/20 at 10:46 am to PUB
quote:
Like the COMEX, it is corrupt and a criminal operation. Since 2008, Wall Street, the banks and corporate welfare socialists have gotten 10s of trillions in $$ to keep their corrupt ponzis going and right now, the manipulation is in hyperdrive.
Wall Street and the Banks have their people in gov keeping the trough full.
Posted on 7/1/20 at 10:48 am to DaTroof
Because the SEC is a government agency, and when has the government ever done a good job? I'm sure they want to stop many of these, but they have limited resources and often their investigators aren't as smart as the scammers.
The exchanges do a decent job of cleaning this up on the stocks on their platforms, but the OTC market is the wild west.
The exchanges do a decent job of cleaning this up on the stocks on their platforms, but the OTC market is the wild west.
Posted on 7/1/20 at 10:49 am to YungBuck
damn that is disgusting.
Posted on 7/1/20 at 11:18 am to DaTroof
Lesson, dont frick with penny stocks. Invest in legit companies.
Posted on 7/1/20 at 11:44 am to DaTroof
quote:
Why does the SEC allow this to take place?Seems like a light investigative effort would expose these multiple scams and help clean this up a bit, but these folks are just running these scams wide open with no apparent ramifications. Do your research folks! So many scams and the SEC does very little to stop it.
I don't know, more than a small number of investors believe XOM continues to hold assets at laughable values, especially given the huge write downs other O&G companies have taken recently, like BP and RDS. That XTO deal, what should it be valued at on XOM's books? Probably a lot less than what they continue to carry it at. They evidently have exceptional attorneys.
Posted on 7/1/20 at 1:05 pm to DaTroof
quote:
Looking to invest between $1-5K in a high risk low price stock and basically forget about it
Well, it doesn’t work like that. Set it and forget it are low risk stocks or really mutual funds. If you are trading penny stocks OTCs are not regulated heavily.
If you read their always delayed filings you will see they retain ability to heavily dilute shares. The information is in their filings. You just have to read their filings, not PR. They just give close partners their bad debt in exchange for more shares and do reverse stock splits. They even tout this as a good decision to resolve debt issues. Most of those stocks would be worth $100s or $1000s a share if there were no reverse stock splits over the last 10 years.
Posted on 7/1/20 at 1:19 pm to DaTroof
quote:
I'm researching OTC stocks and trying to find a legitimate company to invest in but keep running into obvious scam after obvious scam.
Here is your problem. Why are you looking for "legitimate" companies in the OTC market when there are plenty of companies that fit your investment profile listed on larger exchanges?
It's been a hot minute since I had to sit for my FINRA exams but if I recall, companies on the OTCBB don't have to apply for listings or meet any minimum financial thresholds.
I would stay far away from pink sheets if I were you.
Posted on 7/1/20 at 1:43 pm to cwill
NO DOUBT and if anybody ever released the list of the Cayman account owners, it would probably contain the names of most of Congress and D.C.
Posted on 7/1/20 at 2:46 pm to DaTroof
quote:
I'm researching OTC stocks and trying to find a legitimate company to invest in but keep running into obvious scam after obvious scam.
Here is your problem. OTC is basically total bullshite. watch wolf of wall street for some understanding of the companies on there and how they get big.
What you should consider is that stocks trade on the nasdaq for a few buck a share if you're really just hell bent on this model which is fundamentally flawed for lots of reasons.
HEre is an example in 2012 if you bought servicenow for somewhere around $30 a share on a well reputed market. It's worth over $400 a share today.
if you're looking at growth over time don't focus on price of stock per share focus on market cap, upcoming IPOs on major markets stuff like that to find the next amazon.
I will give you one stock however that meets your criteria because it's a free country and I really don't give a shite about your money.
Acerage holdings. OTC stock, however in the right conditions it'll get bought out and become shares of CGC if weed legalizes in US enough for their deal to go through.
There is plenty of risk here but it's got some reputable folks involved and is a big player in a grey US market which is why its in OTC land.
This is a weed play all the way though so watch out for the risk that involves especially if you consider how shitty the canadian market has been for it. But all the money is in the US and this partners a lot of big time US brand names and celebrities with one of the largest multi-state operators.
Posted on 7/1/20 at 9:40 pm to DaTroof
SNDD. Check it out
Posted on 7/1/20 at 10:06 pm to tirebiter
XTO had a metric shite ton of prime East Texas and NWLA stuff, Permian etc.
Posted on 7/2/20 at 10:50 am to DaTroof
Buy 5k in a 0001 stock. Every tick doubles your money.
I am a licensed twitter/ihub financal advisor.
Eta: for real, don't take my advice.
I am a licensed twitter/ihub financal advisor.
Eta: for real, don't take my advice.
This post was edited on 7/2/20 at 10:51 am
Posted on 7/6/20 at 5:55 pm to DaTroof
Buy some crypto (Bitcoin, Ethereum, XRP) put it on a Ledger Nano S. Put it in your safe and come back in a few years. Don't lose your passphrase
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