The SEC has been cracking down on email stock promoters over the last few years and there are only a couple effective email stock promoters left. Part of the problem is that using email to pump leaves lots of traces — to avoid spam filters the promoters need to use email services (like iContact) that will keep records of their names and payment information. If the SEC or DoJ investigates manipulation in a stock or illegal selling of unregistered shares it is relatively easy to locate the promoters. Spam promotions have worked in the past but it is very hard to beat modern spam filters (and of course spamming is treated as a more serious crime than stock manipulation).
Some intrepid promoters figured that the best way to avoid those problems of email is to just avoid it and instead use a messenger program, in this case WhatsApp. Many people were spammed with messages promoting Avra Inc (AVRA) this morning. What followed was a quick spike and massive dump. Expect more such WhatsApp spam promotions in the future.
Below are some screenshots of the WhatsApp spam messages shared on Twitter:
@jimcramer $AVRN someone is pumping and dumping getting real aggressive in the schemes. pic.twitter.com/Uaxk3TzJlj
— Chuck Quarters (@bcs5099) August 21, 2015
@Ben_Segal are you rich now?! — Alex Byers (@byersalex) August 21, 2015
Buddy of mine got a Whatsapp this morning re: $AVRN pump n dump pic.twitter.com/8NyA9L7hFw
— Dan (@dc_trader1) August 21, 2015
Pump and dump on $AVRN watch out for this one bruhs. They’re pumping strong pic.twitter.com/dMdKXp0XLM — Gray Ghost (@TheKurdishMamba) August 21, 2015
Below is the intraday 1-minute chart of AVRN
2 thoughts on “Avra Inc. $AVRN Pumped by WhatsApp spam”
Interesting. I was a bit curious after reading this because many people have said that the OTC markets are in a big dead patch. Just how lucrative is trading the stock promotion landscape on the long side these days? I learned trading exclusively on the NASDAQ, but I’ve always regretted missing out on the OTC glory days a few years earlier. The profits people earned from AwesomePennyStocks promotions are incredible to me!
There are few to no good opportunities to make money buying pumps nowadays. Really there is only one effective promoter left, Elitepennystock/Finestpennystock. Stocktips.com used to be effective but has had a few bad pumps in a row.