Monday, August 20, 2007

Spam Stock Tip, A Pump and Dump Case? (EXMT.PK)

I received an interesting spam email to my Gmail today from: Rodik Glasscock .

Subject: (no subject)


That's it. I went to Yahoo! Finance and also copy pasted the link. Same thing. It's for the company:

It was up 50% today based on its nickel gain to $0.15 on 448,382 shares traded. The intra-day range was $0.12 - $0.17. I received the email around 11:35am Eastern, which was actually around its low of the day. Of course, I didn't purchase!

The stock has a 52wk range (but has only been trading since 16-May-07) of $0.07 - $0.51.

EXMT.PK appears to have been bought on fairly heavy volume on Friday. Volume was a bit higher Monday, as the email spread. EXMT.PK had a low of $0.08, a high of $0.15 and a close of $0.10 on Friday.

It looks like Exchange Mobile Tele (EXMT.PK) doesn't even have a website, or maybe it is in Chinese and not coming up among top results in a Google search. Regardless, this really looks like another pump and dump email stock spam scheme on the pink sheets. There are much higher quality listings and funds to choose from. Don't waste your time on Exchange Mobile Tele (EXMT.PK) or other scam stocks trading on the pink sheets. Remember liquidity on the pink sheets can dry up in a second. To give the Pink Sheets company some credit, it does have a lot of high quality stocks quoted, including ADRs such as Nestle
(NSRGY.PK) and Nintendo (NTDOY.PK).

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