What a wild week it was for the #1 promoter in the penny stock world, awesomepennystocks.com. They started pumping Amwest Imaging, Inc (AMWI) on 11/22 around $0.12 proclaiming:
“AMWI could revolutionize the cloud business and claim an important piece of the market. It also has the potential to be acquired by a larger company such as Microsoft, Apple or Google for example.”
AMWI quickly returned 100% over the next two weeks (kudos to awesomepennystocks.com, more kudos coming soon), but instead of telling members to take profits, the relentless pumping continued. On 12/2 when AMWI was around $0.25 awesomepennystocks.com told their members,
“If you didn’t buy AMWI yet you have been missing out on a lot of gains now may be the time to rethink your strategy.”
Ah there’s that word we love so much here at stockhaven.com – strategy - having one is of the utmost importance in successful trading, whether you’re trading penny stocks, big boards, ETF’s, or options. If you don’t have a strategy for buying a stock, and more importantly selling, you’re going to get chopped up. More on this in a moment, but first… more pumping!
On 12/6, with AMWI trading around $0.50 (up a whopping 315% from their initial alert – kudos to them) awesomepennystocks.com crossed the line:
“our members buying now could possibly be looking at an additional 2000% in gains if AMWI continues tracing up to $10… We have said it when it was trading at 5 cents, and we are going to say it again… We think AMWI is a winner. It was a winner at 5 cents and it’s still a winner at 50 cents.”
Woah, woah, woah! $10??? Are you kidding awesomepennystocks.com??? A 315% gain isn’t enough so you need to put the idea of $10 into your members heads? We’re sorry but this is just completely unethical. As impressed as we are by the power of awesomepennystocks’s picks, the fact that they were even attempting to pass off the idea of AMWI getting to $10 as realistic is completely absurd to us. More than that, it is wrong and not in accord with the duty all of us in the penny stock promotion business have: always encourage members to take profits on the way up and not be greedy holding out for unrealistic gains!
More surprising than the fact awesomepennystocks.com was still pumping AMWI after 300% gains was the fact that on 12/8, with the stock around $1.20 they were still pumping ruthlessly! Awesomepennystocks had yet another chance to do right by their members, and remind them that after what was now 1000% gains, it was only smart to think about taking profits…. but NOOOOOOO; KEEP PUMPING!
“Whether you buy at 70 cents, at a dollar or 2 dollars, in the grand scheme of things it’s pretty irrelevant if it goes to $12 bucks.”
So now we’re not going to $10 we’re going all the way to $12??? Hallelujah!
Just remember,
“Patience is key in situations like this. Holding the fort solidly could pay off in a big way.”
Here is awesomepennystocks most explicitly turning their back on their ethical duty, implying to their members to keep holding even after 1000% gains! We were shocked when reading this latest email. Remember, AMWI was now trading around $1.20 per share! At that price AMWI boasted a market cap of over $642,000,000!
And what was the justification for this ridiculous valuation? An average looking website? Or maybe it was the $317 (yes three hundred and seventeen dollars!) AMWI has in cash? Oh no we know what it is, it must’ve been the goose egg (yes absolute 0 – that’s ZERO people) that AMWI had generated in revenue’s since its inception. Obviously the ONLY reason AMWI was trading at such an inflated valuation was due to the unscrupulous pumping by awesomepennystocks.com!
And then… it all came crashing down! With AMWI trading around $1.38 and up over 100% on the day a PR hit that suddenly sent shares crashing! The PR named AMWI insiders Phil Keuber and Christa Keuber, believed to be Phil Keuber’s wife in a lawsuit. The nature of the lawsuit?
“…the newly added Defendants conspired to defraud the public by conducting what is commonly known as a Pump and Dump scheme.”
You don’t say?? A Pump and Dump scheme? Like one where a powerful promoter alerts members to buy shares of a company around $0.12 and then keeps telling them to buy all the way up to $1.20? You mean a Pump and Dump scheme where outsiders are left wondering, “where the hell are all these shares that are trading coming from?” You mean a Pump and Dump scheme that ultimately ends with an 80% crash from $1.39 at 2:00 to close at $0.26 by 4:00? That type of Pump and Dump scheme? Yes, THAT type of scheme.
Most disappointing is the fact that awesomepennystocks.com claims to be the white knight promoter fighting for the 99% — playing on the rhetoric of the Occupy Wall St. protestors:
“Shorts are getting squeezed like there’s no tomorrow and they are feeling it. Shorts are the 1%. We are the 99%. Standing together we are much stronger and can profit immensely as a ‘long’ group from this.” – awesomepennystocks.com email on 12/7, a mere 24 hours before the 80% drop in AMWI.
Make no mistake, the 99% got left holding the bag on AMWI and are still trying to figure out if this epic collapse is just a blip on the way to the $12 price target they were led to believe was coming. The crippling promotion done by awesomepennystocks.com is another example of the 1% strutting around like its shit don’t stank. Well this one stinks, it stinks bad and lysoll isn’t going to make the smell go away.
Shockingly though, awesomepennystocks.com seems completely oblivious to the ramifications of their actions, sending out another email just this morning in which the subject line reads:
“AMWI has a very exciting week ahead!”
That’s probably true. After all, seeing AMWI go from $0.65 to $1.39 back down to $0.26 was one of the most exciting penny stock occurrences we have ever witnessed, but excitement doesn’t guarantee profits. Dissecting the most recent email is only more alarming:
“It has been very hard to not make money with AMWI up to this point.”
Ummm… try telling that to all the people who bought shares between $0.60-$1.40
“As the holidays approach, we’re all thinking about our ever-growing shopping list. Speaking of endless growth, have you seen how well AMWI is doing?”
We’re confident in saying that after Thursday’s 80% crash, lots of awesomepennystocks.com members have alot LESS cash to spend on their friends and families for the holidays. Speaking of friends and family, they’ve probably got alot less money to spend too because awesomepennystocks.com implored their members to,
“AMWI is our early christmas gift to you and you can do the same for your friends and family by sharing it with them!”
Hopefully none of their members broke the cardinal sin of mixing money and friends/family because awesomepennystocks.com broke enough sins for everyone. Even more disgusting, awesomepennystocks.com is still throwing out their rambunctious price targets:
“Is $12 still possible? Anything is still possible, but we will have to regain the $1 to $2 levels first which could realistically be obtained again.”
Their latest email then goes on to explain what a short squeeze is and tells their members,
“We may get a bit technical here and if there is something you don’t understand you should look it up on investopedia or wikipedia.”
This is as bloody a red flag as we’ve ever seen. If someone starts talking to you and the first thing they essentially say is, “you’re not going to understand what I’m saying.” Then stay the hell away! This is like the housing crisis in 2008 when no one understood the words on the piece of paper they were signing, only to lose hundreds of thousands of dollars later! Do not be fooled by this trickery!
While we have the utmost respect for awesomepennystocks.com’s ability to consistently deliver astounding returns for their members we are nauseated by their latest actions. Instead of doing the honorable thing and encouraging members to practice good money management on winning positions they continue to pump AMWI unmercifully. That’s even after countless of their members have seen their profits disappear and some are likely down well over 50%!
Their latest email is a clear sign that they are blind to the harm they have caused and is undoubtedly a sign that they will continue to pump stocks, no matter what happens. The real question though is will they ever do what’s right by their members and really help them make money? Or will their picks continue to be a triumph of the 1% who are well informed and experienced enough to know that penny stocks just don’t go to $1, let alone $10! And when they do you better be selling your shares, your friends shares, and your families shares, not telling them to buy!
Be careful out there in the shark invested waters of the penny stock promotion business. Stockhaven.com was created to be a honest place where real people work together to make real profits. And if you have any doubt about that, we refer you to this post, which shows REAL AND VERIFIABLE proof that we saved members THOUSANDS of dollars in AMWI!
You can trade smart, or you can trade stupid… you be the judge.
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Related posts:
- Awesomepennystocks.com & pennypic.com teaming up on NSRS?
- The 2,400% gain you DIDN’T make on North Springs Resources (NSRS)
- NSRS CEO Harry Lappa turns $306,196 into $200,000,000! A 65,000% return!
- Stuck in MILV or AMWI? Why it may be best to cut your losses now
- NSRS Video Chart – updated technical analysis as of 12/30/2011 11 am est
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