yo yo yo tracy...i love the attention your garnering! WSJ article interactive.wsj.com
"The FEMPS 'Play of the Day' is IBUI here at .21 ... A fa$t 50%'er to .30 by Tuesday ... Its FAST and EAAAAAAAAAAAAAAASY MONEEEEE!!!"
Nothing newsworthy happened to the company that day. But the stock spiked nonetheless, climbing from 19 cents to 41 cents a share on sharply higher trading volume, before falling back.
So far the posting, by someone using the screen name Tracy Moore, appears to have passed unnoticed by regulators. But similar online postings led the Securities and Exchange Commission on Sept. 20 to charge teenager Jonathan G. Lebed with fraud.
and later in the article.....
But many messages, like one on Aug. 18 touting Internet Business's International, seem intended to pump up the price of the stock. That posting was one of scores made on the Silicon Investor Web site by someone using the name Tracy Moore. Tracy Moore didn't respond to repeated messages sent via Silicon Investor.
The underlying strategy, however, seems apparent from a Tracy Moore posting on May 21, 1999: "ALERT! 'The FRONTRUN WITH THE FEMPSTERS' contest ... After HUGE WINS with HTSF and JAWZ, FEMPSters are looking to set up another 'unofficial' Shareholder Cartel at another stock. ... Anyone who has a recommendation can Private Message me and, if we select that stock, can 'frontrun with the FEMPsters' before the 'Unofficial' Cartel is officially announced ..."
Richard Walker, the SEC's director of enforcement, says the messages look like the kind of thing the SEC might want to look into.
wow...words like "frontrun" being used!!! isn't tokyo joe having some legal problems right now cause of that??? |
