And then there were none: SEC suspends trading in second consecutive Finest Penny Stock pump

Today marks the death of big paid stock promotions run by opt-in email stock promoters. The number and effectiveness of the big promoters had been declining for years, with numerous SEC trading suspensions, lawsuits against promoters, lawsuits against gatekeepers (brokers and lawyers), and criminal prosecutions. First went BestDamnPennystocks, then Awesomepennystocks, then StockTips. The number of lawsuits against lesser stock promoters over the last few years is too high to count.

Today’s suspension of trading in the FinestPennyStocks pump Midwest Oil and Gas (MWOG) after their previous pump BRKO had also been suspended should end the effectiveness of this stock promoter and leave the US markets with no truly effective stock promoters. Perhaps the most interesting thing is that FinestPennystocks has connections to AwesomePennystocks and Eric Van Nguyen — so it is not surprising that they were targeted by the SEC but only surprising that they were targeted so slowly.

MWOG will resume trading on the grey market on May 23rd. The reason for the trading suspension was “recent, unusual and unexplained market activity in the company’s stock taking place during a suspicious promotional campaign.”

SEC Trading Suspension (PDF)
SEC Trading Suspension Order (PDF)

mwog

Big budget snail mailer stock promotions have almost completely ceased over the last few years; from scores per year in 2013 to only one effective big budget mailer last year (Nugene International, NUGN, endorsed by Kathy Ireland). This all started back in 2013 with the SEC suspension mid-pump of Biozoom (BIZM) and the creation of the SEC’s microcap task force.

For the record, here are all the websites of which I am aware that are affiliated in some way with FinestPennystocks (whether by having promoted the same stocks or having the same IP address as websites that have promoted these stocks):

 

FinestPennyStocks Pennystocks.de
FinestPennyStocks pennystocksborse.de
FinestPennyStocks AmazingPennyStockPick.com
FinestPennyStocks AmazingPennyStockPicks.com
FinestPennyStocks StocksThatSoar.com
FinestPennyStocks PoisedtoSoar.com
FinestPennyStocks Stockstrategysecrets.com
FinestPennyStocks Wallstmagazine.com
FinestPennyStocks FinestPennyStocks.com
FinestPennyStocks SmartStockChoices.com
FinestPennyStocks Thebestofthemarket.com
FinestPennyStocks smartstockwinners.com
FinestPennyStocks bestamericanstocks.com
FinestPennyStocks stocktipmagazine.com
FinestPennyStocks PennyStockRepublic.com
FinestPennyStocks Pennypros.net
FinestPennyStocks PennyStocksWinner.com
FinestPennyStocks PennyStocksforMe.com
FinestPennyStocks pennystocksborse.de
FinestPennyStocks BestRisingStocks.com
FinestPennyStocks BestProfitableStocks.com
FinestPennyStocks BestProfitableStocks.com
FinestPennyStocks TopRisingPennystock.com
ElitePennyStock ElitePennyStock.com
ElitePennyStock Pennystocksthatrise.com
ElitePennyStock ElitesPennyStock.com
ElitePennyStock Qualitypennystocks.com
ElitePennyStock mysoaringpennystocks.com
ElitePennyStock TopGainPennyStock.com
ElitePennyStock EquitiesThatSoar.com

There were a number of stock promotions that both the FinestPennystocks and ElitePennystock websites promoted and a number that only one or the other group promoted.

 

Disclaimer No position in any stock stock mentioned above. I have no relationship with any parties mentioned above. 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.

 

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