I do not charge for my investment opinions and secondly the entire world has access to my site for free. Posting my opinion on my site is just like posting my opinion on SI. As for Tokyo Joe my site had warned investors about him on ZANY. ZANY was at $13 1/4 at the time. Its now at $3 23/32.
It may be Zany, but is it Brainy?
TheTruthseeker.com initiates coverage of ZanyBrainy.com with immediate caution.
We have sent a caution out to our members that they carefully evaluate their positions in the stock of ZanyBrainy.com ( NASDAQ: ZANY ) because of
attention drawn to the company's stock by Tokyo Joe's Societe Anonyme.
Several news sources, including CNBC and Dow Jones, reported today that ZanyBrainy.com's stock was being recommended by Tokyo Joe, also known as Joe Park and Yun Soo Oh Park, who emailed his subscription members that he
had received information from ZANY regarding an upcoming announcement of a strategic partnership involving a "mystery partner" and a sales website for the company's products.
The news sources failed to mention that Tokyo Joe is currently under investigation by the SEC's enforcement division for frontrunning activities, in which he accumulates stock in a target company, then drives
the price and volume up by recommending the stock first to his members, and finally the public, while he sells his position, all without disclosing his true positions. A recent example was the unusual trading activity in IMAA,
which the New York Times quoted Park as stating "IMAA would become the new Priceline.com". In late August, IMAA's stock ran from $7 to $14 on a similar volume spike, and is now trading at appx $5 1/2.
The Street.com wrote a article about the Investigation into TokyoMex
Wall Street Whistleblower
SEC Probes Online Stock Picker TokyoMex
03/10/99 05:42 PM ET
By Gregg Wirth
Subpoenas are starting to pop up as part of an investigation into the
high-profile message-board magnate. thestreet.com
TheTruthseeker.com has determined that Tokyo Joe's claims are untrue. The company's Investor Relations department has stated to us that it has had no contact with Tokyo Joe or his organization. In addition, the fact that the
company is planning a partnership was made public several days ago, and the launch of the website is nothing unusual for any company in the retail business.
Nevertheless, based on statements from Tokyo Joe, ZANY's stock has risen appx 50% in the last 3 days, peaking at $14 1/2 today on volume of 10.6 million shares, appx 40 times its average trading volume.
TheTruthseeker.com does not believe the sudden 50% rise in the company's valuation is supported by current developments in the company's publicly disclosed business developments, and potential investors should treat
positions with extreme caution until ZANY's stock price has stabilized. |
