November 8, 2013: Just how stupid do promoters think their subscribers are? Well Shazam Stocks just provided us with a really good example. The email below took so much guts on Shazam's part, that those that don't find it insulting really are as stupid as Shazam believes they are. Check it out.
Now in case you missed it, Far Vista Petroleum (FVSTA) issued a series of preposterous press releases, including the one cited by Shazam above, regarding a non-existing takeover attempt of the company at valuations way above where the stock was trading. Not coincidentally, a Pump & Dump campaign was ongoing concurrently with the press releases. The parameters of the proposed takeover were so ridiculous, it seemed as if FVSTA was begging to be halted. Well much to the prognostications of many, including us, they got their wish.
But for Shazam to come out and make themselves seem like some sort of white knight, way above promoting this type of bogus deal, is a very bad joke. Case in point: check out this promotional email form September 12, 2013.
The email was obviously a promotion for share of PacWest Equities, Inc (PWEI). The disclaimer made it clear that the email was a paid advertisement. The very next day, Shazam came out with a follow up email, continuing to tout shares of PWEI. Just three days later, shares of PWEI were subjected to a trading suspension by the SEC. Shares are trading again, but on the disgraced Grey Market, at a 99% discount to the share price at the time of the halt. Subscribers never heard a word of explanation or regret from Shazam.
PWEI is not the only Shazam promotion that has been subjected to a trading halt. Sovereign Lithium (SLCO) which was recently suspended by the SEC, was also the subject of a Shazam promotion, back in May, when it was known as Great American Energy (SRBL).
And it's not just trading halts that matter. Back on November 6, 2013, Shazam promoted shares of Strategic Global Investment (STBV). On that day, shares of STBV closed down 25% from the previous days close and 88% of traders overpaid for the stock. Since that date, the share price has been cut by two-thirds.
In fact, followers of Shazam, much like the players of any penny stock promoted by any tout, have collectively lost on every single promotion. So instead of gloating about how it would never have promoted shares of FVSTA, which it would have had money been offered, perhaps Shazam should be grateful that they were never hired. Or perhaps Shazam could have just ignored the development and gone on feigning concern for their subscribers in silence.