Re: 7/7/00 - Investor Forum: Investors Add More Paid Basher Claims
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Investor Forum: Investors Add More Paid Basher Claims
By Jack Burney
Published by OTCNN.com
07/07/2000 07:58 AM CST
(Investor Forum is a platform for the free expression of investor opinion, open to everyone. OTC News Network provides background and comments, but the opinions expressed by investors in their letters to Investor Forum are their own and not necessarily those of OTC News Network. If you’d like to comment, write us at burney@ev1.net)
The mail brings us dozens of stories of bashing, which, if not paid, still represents a concerted effort to trash a stock. Here are a few:
Investor "Striper" urges us to "Check out posts by "Quaker" on Raging Bull PNLK (Pro Link Net, Inc.) board regarding people he suspects are paid bashers. There is someone using multiple aliases ("Torcer," *mrpeterman," "codebreak," etc.) and using slight variations of other posters names in what is apparently an all out attempt to trash the stock.
Striper contends that "They have made all the serious investors on the RB board absolutely miserable with vitriolic , insulting attacks on anyone with a positive viewpoint on the stock. I am convinced they are (MM) paid bashers. PNLK stock also did the same thing as you recently described in your article i.e. trading above 4 on good news for almost 30 days, looking for NASDAQ qualification and then tanking for no reason."
(PNLK stock followed the Pattern of Plunder, low in January, peaking near $6.00 in March and plunging, to close Thursday at $1.78.)
Investor "GYM20" says "IMO there is a large short position in Ziasun Technologies, ZSUN an OTC stock.
I am a shareholder for over a year and have watched the Market Makers bring the stock price down on great news . There are also a lot of negative posters on Raging Bull and Silicon Investor constantly bashing anything good about the company."
(ZSUN was at $15.75 in January, but has been down a rocky road ever sine, closing a $5.00 Thursday.)
Investor Paul Milligan writes "I sure wish someone would look at WLGSE (World Wide Wireless) to see what MM games are going on. We have had a series of the most bitter, vitriolic bashers you could imagine on the Raging Bull board - one guy has posted over 6,000 posts against the company in the last year !!! And he claims not to even own any !!! And there are others - one guy suggested that the CEO should suffer a broken neck. The CEO of the company, Doug Haffer, has even had to take legal action with RB to get it under control."
Milligan went on to say "Personally, I suspect that there is a campaign of 'bashing' by some MM or broker somewhere, and possibly other games. For instance, this morning, there were over 120,000 shares traded in the first 45 minutes, a period when this stock would normally trade maybe 20,000 if that much, and yet the price didn't move more than $0.08. There's some game going on here!"
(WGLSE stock has been on a steep descent in May and June, dropping from $2.75 to close Thursday at $1.48).
Investor Steven Sloss thanks us for "the interesting article," then inquires about ANTS Software (OTCBB: ANTS). "I am interested in what is happening with Ants. I was with the company since they were Chopp Computers and I was one of the ones who sold my shares after panicking when I read an article by Bloomberg. Do we as consumers have any legal recourse regarding this situation? At first I thought there was nothing that I can do but now I am not sure. I saw that there is lawsuit against the reporter and Bloomberg.
(ANTS did file suit against Bloomberg.)
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