This morning at about 9:25 AM the SEC suspended trading in Pingify (PGFY). Trading will reopen at the market open on May 29th. Pingify was the current promotion by StockTips.com, which is by far the most effective currently active stock promoter. The emails from Stocktips.com promoting PGFY disclosed expected compensation of $6.5 million. Stocktips.com used images for disclaimers and has already deleted all mentions of PGFY from their website and has deleted the images. Below is the text of the Stocktips.com PGFY pump email I received at 8:41 AM this morning:
Hello StockTips.com Member!
Hey kids. Statler here. Today could be the day I have been speaking about for PGFY!!!
The Tipping point appears to be imminent for PGFY…
Remember yesterday I told you about PGFY looking extremely poised for a MASSIVE BREAKOUT???
Well I think PGFY is about to “BREAKOUT”
Again, “Remember the 2.00…” I believe you should keep that number very close in your minds eye… As PGFY seems poised to pop and I would not be surprised to see it run to 2.00 starting today!
I think this is the last time we see PGFY at these levels.
Everyone is now talking about PGFY‘s potential breakout…
For those of you living on planet Mars, let me tell you about what I see with PGFY and why I simply love PGFY:
- PGFY is in a WHITE HOT market. The mobile market, especially after the Facebook acquisition of Whatsapp for 19 Billion (yes that’s billion with a “B”) is one of the hottest in the world. And this is where PGFY plays.
- Hot product – The PGFY app addresses the massive problem of information overload. Their app sends messages to users phones called “Pings” that contain short, targeted, relevant messages that help users cut through the clutter and get just what info they want, when they want it.
- Super hot timing – The massive successful beta test with Ebay has proven the PGFY concept out. When this relationship begins generating revenue, we could see parabolic gains.
I know that you understand how important timing is when trading stock. If you catch the right window of time on a deal you can make a killing and if you miss that window then you are plain out of luck. So reading emails is fine… Googling around and reading reviews of a deal is fine. All of it is fine… Up to a point. And then you have to act.
So you see if you have been on the fence with PGFY I get it. There were rough waters for a while. But I truly believe in my heart that the storm has past and we could see massive gains on PGFY!
So what are you going to do?
Below is a copy of Stocktips.com’s disclaimer on PGFY (underlining not in the original):
From the SEC press release:
The Commission temporarily suspended trading in the securities of PGFY because of concerns
regarding potential manipulative activity in Pingify’s common stock that appears to be related
to a promotional campaign currently being conducted through various Internet web sites. This
order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange
This trading suspension was not a surprise to me. I thought it highly likely a few days ago but was too cheap to pay the hard to borrow fees at Centerpoint Securities the last couple days to short. (I am short 1,000 shares at Interactive Brokers).
— Michael Goode (@goodetrades) May 9, 2014