Wednesday, January 13, 2010

Check Out This Pump And Dump (IMGG)

Check Out This Pump And Dump (IMGG)
Pump and Dumppppp….
Ever wanted to know what a pump and dump looks like? Well look no further with the latest one by Imaging3 Inc. (IMGG).
IMGG chart

Look at that chart….
Just look at this ridiculous chart pattern, it is nothing more than a blatant pump and dump. Let see, starting in September it was trading around 3 pennies then less than 2 months later it hits a high at $1.95, making most if its gains within 2 or 3 days. Take a nice glance at the volume, it was once trading less than a few thousand shares a day, then all of a sudden it’s trading 7million + shares a day hmmmm.  Then, less than 2 months after the high, the stock takes a nice big red dump and now sits around .60cent/share and still falling.

The Cause..
1. Stock promotion.
2. Message board hype.
3. Stock manipulation.

The Promotion
This stock was being promoted by standoutstocks, picksthatmove and the main one StockPreacher just read their disclaimer. As you can see here, StockPreacher released their “Report” on IMGG  November 10th. OK, now look at the chart find around the time of November 10th…..Yea it spiked huge on this stock promoters pump. Read the disclaimer, they spill their guts there! These promoters are usually compensated for these “Reports” in cash or a number of freely trade shares. Which if they receive those shares, of course they are going to pump this thing and then sell into that. Oh it gets better, check this post on IMGG man does it sound good, then have a laugh and reed to comments below the blog post….. Read it here.

The Hype
Message board hype is my favorite. As you read message boards on sites like yahoo, InvestorsHub and, you can see idiots thinking this is a real company making big moves. All the talk and hype is just code for they want to pump the stock and suck in all the suckers to buy it, push the price higher and then sell it short or sell into that hype.

The Manipulation
I mean if you are a smart person you will do your own research and find out how much of a scam this company is. First, just check out the garbage balance sheet here. Then you can look at their SEC filings and see that they are having problems and not making any money at all! Also their “Products” are also garbage and nothing more than a scam!
Look at what they do, they are a “Developer of a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time”, Big whoop that sounds profitable doesn’t it? haha..
OK, now look at the latest news from IMGG; they are hosting a conference call to update share holders of the FDA submission.
Read the article here which was released yesterday “The purpose of the call is to update Shareholders and other interested parties of the current developments with the company’s 510k FDA submission” which the FDA is asking for more information regarding their submission because of earlier conflicts. This conference call and the anticipation of FDA approval could cause for another spike in the stock, keep your eye out and do some research so you don’t fall into the scam just profit from it. :)

What do you think?

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