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Apr 16

The pump and dump du jour, Sunpeaks Ventures (SNPK)

Sunpeaks Ventures (SNPK), with a share price of $1.96 and 420.5 million shares outstanding, currently has a market capitalization of $820 million. With one overpriced multivitamin product (Clotamin) that has plenty of competition, very little in the way of operating history, and a massive stock promotion campaign, it is certain that this stock will soon fall. I believe that will occur within a week, but it could take a month. I am sure that within two months, SNPK stock will be down over 90%.  A couple different penny stock journalists have done some great investigative research on Sunpeaks already, so I don’t have to. Below are the relevant links:

David Baines of the Vancouver (B.C.) Sun
America’s hottest penny stock has links to controversial Osoyoos family
Sunpeaks stock soars higher still
Sunpeaks Ventures went public with cheap shares in offshore accounts
Sunpeaks Ventures’ share price reaching ignition point

Janice Shell of The Street Sweeper
Sunpeaks (SNPK): Will This Hot Stock Go up in Flames? (Full report, as PDF)

Disclaimer: I have no positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

7 comments

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  1. Preston

    I like the new set up Michael, looks sharp.

    hope all is well.

    1. Michael Goode

      Yeah I like it better than the last one — that was horrible. I’ll probably end up changing again. The reason I changed to the last one is because when my site got infected I think the theme was part of the problem.

  2. Bill Gross

    Most importantly, how do you short this thing?? I cant do so on IB.

    1. Michael Goode

      Like with NSRS it will not ever be shortable at IB — IB doesn’t even recognize the ticker.

      1. Jason

        Are you short SNPK? It just tanked, I’m sure you saw.

      2. Michael Goode

        Like I said before, there are no shares to short, unfortunately. I did make a small bounce trade, buying 3k @ .74 and selling at .82.

  3. SpitUK

    I like the change too. Great blog as well, keep it up.

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