Sunday, July 6, 2008

China Energy Corp (CHGY) (CHGY.OB) Mobile Stock Spam

We have received a report of a stock spam received via (mobile) text message involving China Energy Corp (CHGY) (CHGY.OB). The CHGY text message spam arrived late Sunday afternoon (USA eastern time) saying the following:

"This is not a fly by night companyUChina Energy Co-CHGYUGood call"

On Thursday (remember the market was closed Friday for the 4th of July holiday), China Energy (CHGY) (CHGY.OB) jumped 15.96% to $1.09 in a pre-holiday shortened day of trading. Volume of 77,760 was more than seven times the 3m avg. CHGY has a wide 52wk range of $0.25 - $6.00. CHGY's market cap is $49.05 million. (See Yahoo! Finance's page for CHGY). doesn't have a warning label for China Energy (CHGY), but CHGY is shown to be dually quoted on the Pink Sheets and the OTCBB.

Consider CHGY a case of "caveat emptor." A Chinese OTCBB stock, cell phone spam, late Sunday, a jump the last trading day ....


admin said...

Apparently there's been more than one CHGY text message spam today and this has happened in the past too. Details of an earlier spam per Yahoo! Finance MB:

From: 8888
You don't wanna miss this energy smallcap
Symbol-CHGY(49 mill market cap)
Open the kimono
2:51 pm 7/6/08

Anonymous said...

Seems there are 45 million shares registered for resale per 144 limitations. Could explain the periodic pumping of a stock with 10,000 average trading volume IMO.