I apologize to my dear readers: I have not had much time for blogging recently. Unfortunately that has led to me failing to blog about several interesting stock promotions and a couple stories that are very interesting and inflammatory that require a lot of work. One recent pump and dump that did surprisingly well is UMF Group (UMFG).
As you can see from the chart there were two separate pump phases of UMFG. The first pump was accompanied by emails and a landing page at http://dailystocktraders.com/UMFG2/ (that page has since been removed). Thanks to Tim Lento for blogging about the pump and capturing an image of the first pump page (click below to enlarge). Make sure to follow Tim’s blog. The second phase of the promotion (after the landing page was removed and unaccompanied by any emails that I received) was in January and impressively resulted in the stock breaking out to new highs before crashing again. Perhaps UMFG was promoted by a boiler room in January?
As is common with promoted stocks that slowly uptick for many days in a row, I see a very strong probability (>95%) that the stock was manipulated and I could even describe how.
Disclosed budget: not mentioned
Paying party: not mentioned
Shares outstanding: 121,221,878
Previous closing price: $0.556
Market capitalization: $67 million