Tuesday, August 21, 2007

Exchange Mobile Tele (EXMT.PK) Pump-and-dump Pink Sheet Stock Falls 20%

The penny stock pump-and-dump scheme seems to be working as Exchange Mobile Tele (EXMT.PK) closed 20% lower at $0.12 and traded between $0.11 to $0.17 during the day. Monday's trading range was $0.12 - $0.17, up 50% over Friday. Seems there's still some momentum behind this one. Volume was even higher today at 664,408, compared to 448,400 on Monday and 393,200 on Friday. Exchange Mobile Tele dropped from the start of today's session, but rallied back some in the last hours. My guess is this thing trades lower on Wednesday and for the rest of the week, back towards $0.08.

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