TUMON
Thanks for you response:
Regarding NVID however, I know for a fact there is no "pump & dump" going on, at least not by anyone associated with the company. The current management is almost conservative to a fault regarding any news that could be (mis)construed as "hype."
I never said that I thought management of the company was involved, but that I was suspicious that (given the information that I posted) there is someone orchestrating a pump and dump.
I agree that if you read the press release from NVID it is quite clear that they are being careful not to make any outrageous claims (for instance, the figure $30B doesn't appear anywhere in the press release). That being said, there is definitely hype coming from somewhere. Some of the links that I posted contained some pretty hyperbole-laden statements. For example:
In MY OPINION ONLY, NVID will be my biggest stock gainer this YEAR!
techstocks.com
Also, if we are to use history as a guide, we might reflect upon the words of a wise man who once said Someone's hyping because someone's buying.
Message 211425
I hate to admit it, but when I started out I got burned on a few of these "hot stocks" before I learned this lesson.
It sounds like you would have been better off if, instead of buying as a result of a hot tip, you turned the tipsters into the SEC and collected a bounty :-)
Here's some info on the SEC's bounty program:
Section 21A(e) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. 78u-l(e)] authorizes the Securities and Exchange Commission ("Commission") to award a bounty to a person who provides information leading to the recovery of a civil penalty from an insider trader, from a person who "tipped" information to an insider trader, or from a person who directly or indirectly controlled an insider trader.
Also, for those who do not realize it, by acting on a hot tip, you may actually be in violation of the insider trading laws, if in fact the tip contains material, non-public information (as opposed to hype and lies):
"Insider trading" refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped" and securities trading by those who misappropriate such information. Examples of insider trading cases that have been brought by the Commission are cases against: corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments; friends, business associates, family members, and other "tippees" of such officers, directors, and employees, who traded the securities after receiving such information; employees of law, banking, brokerage and printing firms who were given such information in order to provide services to the corporation whose securities they traded; government employees who learned of such information because of their employment by the government; and other persons who misappropriated, and took advantage of, confidential information from their employers.
The full text is at sec.gov
Regards
John Sladek |
