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(Business Insider)   Company with no revenue, no assets, and one executive has seen its stock price go up 25,000% since June 17 and now has a market capitalization of $4.29 billion. This is all completely reasonable   (businessinsider.com) divider line 78
    More: Strange, market cap  
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5229 clicks; posted to Business » on 10 Jul 2014 at 5:41 PM (19 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-07-10 04:12:47 PM  
Good morning, children. Can you say .pump & dump.? Good. You are very smart kids. You'll go far on Wall Street.

Now, can you find your Mommy's purse and take out all the rectangular bits of paper with pictures of funny old white men on them? they look like this.  This is a Franklin. His name is Ben Franklin. Pay special attention to bits of paper with Ben Franklin on them. They are especially good pieces of paper. Everybody loves to get them in the mail, especially Uncle Roger.

Uncle Roger would like you to take all the bits of paper with pictures of old men on them and put them into an envelope.

This is what you should write on the envelope:


UNCLE ROGER'S RETIREMENT FUND
BOX 1313
STN C
MORNING WOOD HEIGHTS
PEORIA, IOWA

If you can't find a stamp like this one to put on the envelope, write C.O.D. on the envelope instead of sticking a stamp on it.

Can you do that? Boy, you are really smart kids.

After these commercial messages Uncle Roger will tell you where to stick the envelope.
 
2014-07-10 04:48:59 PM  
It's called CYNK? Somebody's making this shiat up.
 
2014-07-10 04:55:51 PM  
It rhymes with lync, so it must be a new product from Microsoft. Quick, get in on the ground floor.
 
2014-07-10 05:07:33 PM  
Sell Mortimer sell.
 
2014-07-10 05:22:50 PM  
Why not trust our pensions to a wonderfully solid system like this?
 
2014-07-10 05:44:10 PM  
How is ZOMBO.COM stock doing these days?
 
2014-07-10 06:00:34 PM  

flaminio: How is ZOMBO.COM stock doing these days?


Everything is possible
 
2014-07-10 06:01:23 PM  
Just imagine what they could do if they branch out into marketing.
 
2014-07-10 06:02:55 PM  

Blues_X: Why not trust our pensions to a wonderfully solid system like this?


Because the stupid deserve to be fleeced as punishment for being stupid
 
2014-07-10 06:07:00 PM  
I always knew Ken Lay was alive and kicking somewhere.
 
2014-07-10 06:12:13 PM  
cdn.memegenerator.net
 
2014-07-10 06:15:57 PM  
probably a handful of computer algorithms fighting each other and driving the price up.
 
2014-07-10 06:20:31 PM  

Smeggy Smurf: Blues_X: Why not trust our pensions to a wonderfully solid system like this?

Because the stupid deserve to be fleeced as punishment for being stupid


Because the elderly deserve to have their purses snatched as punishment for being old

Because the babies deserve to have their candy stolen as punishment for being newborn

Because the crippled deserve to be tripped as punishment for being handicapped
 
2014-07-10 06:22:13 PM  
I am holding.. we haven't hit the ceiling yet. Totally undervalued.
 
2014-07-10 06:24:10 PM  
So, what are we looking at?  A pump and dump? Irrational exuberance that mirrors the dot com bubble? Time travelers investing in the company who know it will become the next big thing?
 
2014-07-10 06:25:15 PM  
Just goes to show, all you have to do is tickle the tit of an auto-trading program and it starts snapping up shares JUST BECAUSE THEY ARE GOING UP even though it has no knowledge of what it is buying.  Once you get one auto-trader to bite, all the others follow suit.  They're too stupid not to.  And then you have a nice little spike in value that tricks the unwary humans into buying as well.
 
2014-07-10 06:25:19 PM  
Fark looks like a Yahoo Finance message board today.
 
2014-07-10 06:25:38 PM  

chasd00: probably a handful of computer algorithms fighting each other and driving the price up.


It's the escaped NSA artificial intelligence behind "Snowden" I've been telling everyone about. It's been pumping and dumping stocks and driving up Bitcoin in order to buy virtual servers on AWS and Azure for itself to grow. It's been making its moves, hidden in plain sight.
 
2014-07-10 06:29:21 PM  

brandent: Fark looks like a Yahoo Finance message board today.


Par for the course, eh?  Why would a site full of IT support staff be the go to place for stock market analysis?  I freely admit I post on Fark because I'm too stupid to be taken seriously by anyone else.
 
2014-07-10 06:33:38 PM  
Looks like standard low volume trade errors. Could be that an investor typed the wrong ticker symbol, or someone trading to themselves.
Computerized systems are geberally smarter than this - or at least the ones that have access to large amounts of money are. Its less likely that this is a mistake of an entirely automated system. Those mistakes tend to manifest in other ways.
 
2014-07-10 06:50:57 PM  

llortcM_yllort: So, what are we looking at?  A pump and dump? Irrational exuberance that mirrors the dot com bubble? Time travelers investing in the company who know it will become the next big thing?


Money laundering.
 
hej [TotalFark]
2014-07-10 06:51:24 PM  
Please let this be somebody who figured out how to game the high speed trading algorithms.
 
2014-07-10 06:56:44 PM  

hej: Please let this be somebody who figured out how to game the high speed trading algorithms.


Oh god, please THIS
 
2014-07-10 06:58:24 PM  
The stock trades over-the-counter on an unregulated exchange

Nevermind then, nothing out of order here. If you buy discount riches you can expect to get ripped off like this.
 
2014-07-10 07:09:41 PM  

Fark like a Barsoomian: The stock trades over-the-counter on an unregulated exchange

Nevermind then, nothing out of order here. If you buy discount riches you can expect to get ripped off like this.


This. Standard pump and dump on an unregulated exchange. Just happens to be a bit inflated one.
 
2014-07-10 07:31:07 PM  
Donny's bringing the Lemmons. Then it's Cerebral Party Time.
 
2014-07-10 07:35:33 PM  
Reminds me of a joke I heard years ago.

Want to become rich?  Start a company!  It's easy.  Form a corporation.  Issue 100,000,000 shares and have a friend buy a share for $10.  You now have a $1 billion company.  Pretty slick huh?  Now find a nice company you'd like to buy and do a stock swap.
 
2014-07-10 07:38:02 PM  
Sheesh that's a bad one, even for a pink sheet...
 
2014-07-10 07:43:31 PM  

brantgoose: Good morning, children. Can you say .pump & dump.? Good. You are very smart kids. You'll go far on Wall Street.

Now, can you find your Mommy's purse and take out all the rectangular bits of paper with pictures of funny old white men on them? they look like this.  This is a Franklin. His name is Ben Franklin. Pay special attention to bits of paper with Ben Franklin on them. They are especially good pieces of paper. Everybody loves to get them in the mail, especially Uncle Roger Soupy.

Uncle Roger Soupy would like you to take all the bits of paper with pictures of old men on them and put them into an envelope.

This is what you should write on the envelope:


UNCLE ROGER'S SOUPY SALES RETIREMENT FUND
BOX 1313
STN C
MORNING WOOD HEIGHTS
PEORIA, IOWA

If you can't find a stamp like this one to put on the envelope, write C.O.D. on the envelope instead of sticking a stamp on it.

Can you do that? Boy, you are really smart kids.

After these commercial messages Uncle Roger Soupy will tell you where to stick the envelope.


FTFY

Soupy actually pulled that stunt back when he had a kiddie's TV show.
 
2014-07-10 07:49:19 PM  

chasd00: probably a handful of computer algorithms fighting each other and driving the price up.


it would be interesting to create a stock just to screw with high speed ops, I'm sure it could be done
 
2014-07-10 07:53:58 PM  

Blues_X: Why not trust our pensions to a wonderfully solid system like this?


You are right. The mattress or an actuarially insolvent defined benefit plan is much better.
 
2014-07-10 08:07:22 PM  

Debeo Summa Credo: Blues_X: Why not trust our pensions to a wonderfully solid system like this?

You are right. The mattress or an actuarially insolvent defined benefit plan is much better.


The later is perfect if they don't check their math before you die.
 
2014-07-10 08:22:39 PM  
Sounds like penny BitCoin stock madness.
 
2014-07-10 08:25:30 PM  
Dammit, Business Insider, I was about to short the shiat out of that stock.
Now the SEC (and my conscience) won't let me.
 
2014-07-10 08:43:05 PM  
Is this a repeat from 1928?
 
2014-07-10 08:59:28 PM  
pump and dump or a Romneyesque 401k which is a pump and sustain.
 
2014-07-10 09:04:43 PM  

Monoxide: I am holding.. we haven't hit the ceiling yet. Totally undervalued.


Call your certs.  We'll squeeze it up to a jillion dollars a share.
 
2014-07-10 09:18:43 PM  

zedster: chasd00: probably a handful of computer algorithms fighting each other and driving the price up.

it would be interesting to create a stock just to screw with high speed ops, I'm sure it could be done


You know how I know you don't have the slightest idea what you're talking about?

// Either of you.
 
2014-07-10 09:22:10 PM  

demaL-demaL-yeH: Dammit, Business Insider, I was about to short the shiat out of that stock.
Now the SEC (and my conscience) won't let me.


Is it even possible for Joe Daytrader to short pink sheets?  I can't imagine any legitimate brokerage account offering margin for thinly traded OTC stocks.

Anyways, even if you noticed this before it was all over the internets and had the facility to short the stock, I'd still stay the hell away.  Clearly manipulated pump-and-dump schemes can stay clownshoes longer than you can stay solvent and you wouldn't want to be anywhere near the stock when the SEC drops the hammer unless you enjoy having the financial equivalent of an anal probe.
 
2014-07-10 09:23:30 PM  
It's a new paradigm! Sell everything not nailed down and put the money in here before the market adjusts again.

/Fun fact: Your neighbor's things aren't nailed down
//That's called a poor man's leverage ratio
 
2014-07-10 09:26:50 PM  

BMFPitt: zedster: chasd00: probably a handful of computer algorithms fighting each other and driving the price up.

it would be interesting to create a stock just to screw with high speed ops, I'm sure it could be done

You know how I know you don't have the slightest idea what you're talking about?

// Either of you.


I worked at a high frequency, it would be complicated but you could purposely drive up the price by say listing 5K shares on exchange 1, 10K on exchange 2
put in a buy order for 5001 shares the High Freq sees the 5k get cleared from exchange 1 and buys up all the shares on exchange 2 driving up the price of the stock, you pump and dump the share you have. Repeat millions of times
 
2014-07-10 09:29:19 PM  

OptionC: demaL-demaL-yeH: Dammit, Business Insider, I was about to short the shiat out of that stock.
Now the SEC (and my conscience) won't let me.

Is it even possible for Joe Daytrader to short pink sheets?  I can't imagine any legitimate brokerage account offering margin for thinly traded OTC stocks.

Anyways, even if you noticed this before it was all over the internets and had the facility to short the stock, I'd still stay the hell away.  Clearly manipulated pump-and-dump schemes can stay clownshoes longer than you can stay solvent and you wouldn't want to be anywhere near the stock when the SEC drops the hammer unless you enjoy having the financial equivalent of an anal probe.


That's a hell of a lot a verbiage to comment on an off-the-cuff joke.
/Won't ever touch that part of the "market".
 
2014-07-10 09:41:27 PM  

brantgoose: Good morning, children. Can you say .pump & dump.? Good. You are very smart kids. You'll go far on Wall Street.


Beat me to it.
 
2014-07-10 09:47:43 PM  

zedster: I worked at a high frequency, it would be complicated but you could purposely drive up the price by say listing 5K shares on exchange 1, 10K on exchange 2
put in a buy order for 5001 shares the High Freq sees the 5k get cleared from exchange 1 and buys up all the shares on exchange 2 driving up the price of the stock, you pump and dump the share you have. Repeat millions of times


Lots of HFT going on with OTC penny stocks?
 
2014-07-10 10:07:09 PM  

Snarcoleptic_Hoosier: It's a new paradigm! Sell everything not nailed down and put the money in here before the market adjusts again.

/Fun fact: Your neighbor's things aren't nailed down
//That's called a poor man's leverage ratio


If you can pry it loose, it's not nailed down.
 
2014-07-10 10:13:36 PM  
The CEO guy owns 210M out of 290M shares and only 100k were traded yesterday.
Sounds like he's trading with himself.
 
2014-07-10 10:15:22 PM  

BMFPitt: zedster: I worked at a high frequency, it would be complicated but you could purposely drive up the price by say listing 5K shares on exchange 1, 10K on exchange 2
put in a buy order for 5001 shares the High Freq sees the 5k get cleared from exchange 1 and buys up all the shares on exchange 2 driving up the price of the stock, you pump and dump the share you have. Repeat millions of times

Lots of HFT going on with OTC penny stocks?


I'm sure a few are, but when did I say my highly unlikely pie in the sky scheme was going to be a penny stock?
 
2014-07-10 10:25:04 PM  

zedster: I'm sure a few are, but when did I say my highly unlikely pie in the sky scheme was going to be a penny stock?


Well you said you were going to "create" a stock.  Were you planning to build a large company and get it listed on a major exchange just to try to pull this off?
 
2014-07-10 10:34:01 PM  

hej: Please let this be somebody who figured out how to game the high speed trading algorithms.


I recall hearing on CBC that the head of Royal Bank of Canada managed to not only figure out about the trading algorithms before they were widely known about, but also how to maneuver around them.  He said it felt like the stock market was reacting immediately to any action he took, faster than any human network ever could.
 
2014-07-10 10:35:47 PM  
Company with no revenue, no assets, and one executive has seen its stock price go up 25,000% since June 17 and now has a market capitalization of $4.29 billion. This is all completely reasonable

is the company named 'bitcoin'?
 
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