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).

PinkSheets.com 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 ....

2 comments:

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
conspiracybo@dunwoody.uk.net
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.