Tuesday, October 9, 2012

Source Gold Corp. (SRGL) (SR_G L) stock spam, pump and dump: "I Don`t Believe This!"

We have received one of the best stock spam pump and dumps in while. $1.9 million (market capitalization) Source Gold Corp. is the target. Ticker SRGL or SR_G L as the spammers would have it. Touting the not even $2 million company as being a beneficiary of "global demand for gold" which they say "could soar to $221.5 Billion this year" is clearly a stretch if 7 figures is to be expected to turn into 9 figures or more! 

Source Gold (SRGL) has traded between a penny and $0.25 over the past year according to Yahoo! Finance. It closed yesterday (Monday) at $0.04 per share on very heavy volume of 5,273,500 shares. That compares to volume of 169,700 on Friday. It traded above 5 million shares last week too on Oct. 2 and over 3.5 million on Oct. 1. The stock at that time went from an effective ZERO or near-ZERO cents per share to a PENNY. Clearly there was some cheap accumulation of shares. On Oct. 3 volume came down but was still over 1.2 million AND the SRGL closed at $0.03 per share. So the pump-and-dump scheme has been set in motion. SRGL traded as high as a nickel yesterday. Let's see what happens today and for the rest of the week. The recent SRGL trading activity would suggest there are roughly, at least, 5 million shares that need to be sold. One would assume the stock price needs to see more upside before these shares flood the market as sell orders. 

Caveat emptor folks! Downside in this one would probably be near-ZERO.

Original SRGL stock spam email: "I Don't Believe This!"

Top News: Global Demand for Gold Could Soar to $221.5 Billion This Year. One company made sure to secure their claims for the richest find out there - worth of billions of the Midas metal.
The lucky company is: SR_G L
Go investing SR_G L on Octob


Anonymous said...

You didn't even research the company, you just declared it pump and dump because you got an email, and the stock went up. The writer of this blog can possibly be sued for this or face prosecution from the SEC for false and misleading information

Anonymous said...

To anonymous: more importantly, the sender of the spam emails and the company itself can be charged, whether they are pumping and dumping or not. Don't forget that. Are you involved in the spam?