About an hour ago, The Stock Wrangler group of touts, which includes StockShockAndAwe.com and FastMoneyAlerts.com, issued a press release exclaiming "We Were Screwed!", following the failure of the Wrapmail, Inc. (WRAP) Pump & Dump. About two million previously restricted shares were dumped onto the public today alone, adding to the 6 million shares we figure were already dumped over the last couple of weeks. The pimps' emails claimed that they had no idea that
a Pump & Dump was going on. "We were completely unaware that WRAP was being promoted, or even mentioned, by anyone today. If we did, we likely wouldn't have alert you to it." Really? Never mind today's promotional efforts by the giant Blue Wave Advisors group headed up by BeaconEquity.com, you didn't know that this was Day 23 of a campaign that, before today, had twelve newsletters, spearheaded by one of the biggest promoters, Research Driven Investors, emailing frantically to suckers? And you call yourself worthy of giving out stock advice?
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The Stock Wrangler pimps claim to not have been paid, while Blue Wave, without whose efforts there would have been very little volume today, freely admits that it was paid $25K for today's emails. Alternatively, Stock Wrangler claims, "We simply think that WRAP is an exciting growth company with tremendous upside." Exciting? Growth? How about the fact that WRAP has $22.5K in the bank and its book value is less than half a penny a share? Do you think that makes it worthy of a recommendation at 5 cents?
What these emails did do today is convince us that our recent decision to remove tracking which pimps are being paid and which ones are not, is the right one. They all lie anyway and have some ulterior motive. In fact, we're about to reveal how XtremePicks makes money even though they usually claim that their picks are uncompensated. Stay tuned for our interesting piece on the Aerius International P&D (AERS).