One Pegasus Puff Piece, coming right up!
Got this email today from MN1, a stock-promoting website featuring "news" on penny stocks and rent-an-analyst reports by some guy named "mike." He's the one who was shilling Manchester Inc, was involved with Rufus at Conversion Solutions, has let Patrick Bryne rant on about the conspiracies, and other utter nonsense.
Here's the email:
"I’m working on a story about Pegasus Wireless and the class action lawsuit filed against them by Brower Piven. Since your piece on Aug. 24, 2006, seems to be at the heart of their argument, I was hoping you wouldn’t mind answering a couple of questions (I’ve listed them in order of importance):
How hard was it to uncover that information?
Brower Piven attributes your story to a precipitous fall in Pegasus Wireless stock prices – how much credence do you put into that argument?
What advice would you give anyone investing in a penny stock?
Thanks in advance. Of course, I am on deadline…
Here's My response:
"Sorry Bethany, MN1 is well known to me as a stock-shilling website that takes money to promote questionable businesses, all the while masquerading as news.
I won't have anything to do with it."
These people are what's wrong with Wall Street. And they're part of the reason I spend so much time digging for the truth behind the hype.
Watch your wallets, folks. There are plenty of hot fingers out there.