Kaloyan Gadzhev

Pumpers Unfazed by PacWest Equities Inc (OTCMKTS:PWEI) Suspension

by Kaloyan Gadzhev September 18, 2013
374PWEI_chart.pngLast Thursday, PacWest Equities Inc (OTCMKTS:PWEI, PWEI message board) was announced as the new pick of Awesome Penny Stocks (APS), and Victory Mark's newsletters. It got the Caveat Emptor sign the very same day, and yesterday it got suspended by the SEC.

On Thursday, more than 470 million PWEI shares changed hands. This translates into approximately $37 million. While a significant amount of the volume was probably generated by intraday trades, it maybe safe to assume a lot of if was generated by pump players loading up on shares in wait for the run up.

Those who are still holding PWEI shares are looking at huge losses. The suspension will last until the end of the month. After that, PWEI will most probably resume trading on the grey market, as was the case with Southridge Enterprises Inc. (OTCMKTS:SRGE) and more recently - Polar Petroleum Corp. (OTCMKTS:POLR).

Yesterday afternoon, we received emails from APS and Victroy Mark's Select Penny Stocks. They don't contain any apology on part of the pumpers; instead APS and Select Penny Stocks are trying to hype up their subscribers for their next pick.

Even after the immense failure that PWEI turned out to be, APS and Victory Mark remain among the biggest names in pumping. It will be interesting to see whether they will manage to generate so much attention with their next pump job, it will also be quite interesting to see whether OTC Markets and the SEC will be so quick in their reaction.

Comments 1

1. Guest
October 01, 2013, 12:20PM

Quotes Well I for one am holding on to my shares, with a 120 million in market capitalization, and 50 million dollars given to the company by the Brazilian Government, Its only a matter of time.

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