Thursday, October 4, 2012

Face Up Entertainment (FUEG) pump-and-dump a flop

So much for the Face Up Entertainment (FUEG) spam, pump-and-dump over the weekend. Notice in the 5 day FUEG stock chart below that FUEG had a big move on Friday the 28th apparently before any or much email spam went out.

Volume did pick up a bit on Monday and it traded up as much as $0.02 (versus a $0.30 close on Friday), and it ended up closing at $0.32. However volume fell by more than half on Tuesday when FUEG had traded between the same $0.30 - $0.32 and closed down a penny at $0.31. Volume dropped another 20% or so yesterday and FUEG traded in a tight penny band, closing down a penny to $0.30.

Unless the spammers ramp up their campaign, it seems unlikely that either volume will increase nor will the price increase enough for them to dump shares without killing the stock price. We'll see if anything comes in. Caveat emptor!


3 comments:

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DEWHURST TOULSON said...

We'll see if anything comes in. Caveat emptor!
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