See Why This Penny Stock Exploded from 1 cent to .50
See Why this Penny Stock Exploded from 1 cent to .50!
Peter explains what drove this stock up from 1 cent to .50.
Several dollars per share from a single penny? This cannabis / marijuana penny stock was driven by a dishonest promoter who lied people into a speculative mania.
Investors got lied to, through message board comments, free e-mails, unsolicited faxes, and spam e-mails. The less sophisticated investors did not know to avoid Dark Market stocks, and pot penny stocks, which are listed on the Pink Sheets, OTC QX, and OTC QB.
Most people got absolutely wiped out financially by the pump and dump scam. The greatest amount of money went into the shares at the height of the scheme, and now those invested dollars have mostly evaporated.
At the height of the OWCP pump and dump scam, the company has a total value of one half of a billion dollars. 0,000,000 for a business with million in assets.
Pump and dumps are illegal, and the con artists who run them often get away with them (although they have to hide overseas in many cases). Sometimes however, they do get caught, and go to jail, and return all the funds.