Spng

Discussion in 'Stock Market' started by Paulie, Jun 7, 2009.

  1. Paulie
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    Paulie Platinum Member

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    Any traders here become aware of this one yet?

    This company is completely taking off right now, and is making a hell of a lot of revenue. It closed at .10 on Friday, up about 200% on the week.

    I got in at .039 and loving every minute of it! This stock is so undervalued it's ridiculous. When P/E is factored in, this stock price should be around $1.00.

    They make a spong product that has soap built in and can be re-used. Their marketing is awesome, you see their ads at major league baseball parks, on TV, they're about to release their "spongebob" branded sponge product for kids, they had their product on Home Shopping channel, CostCo just ordered a huge lot to stock in their stores, and they made something like 30 million in revenue just for the month of May. Their advertising cost for the YEAR is 35 million, so their Q2 earnings report is going to look AWESOME.

    This is to say NOTHING of what their Q3 earnings report will look like, which will factor in the Spongebob product and other initiatives like the CostCo deal.

    Personally I'm hoping for a little pullback sometime next week to grab some more shares, but I'm riding this one all the way out. This could become my down payment on a house.

    Get it while the gettin' is good folks!
     
  2. Paulie
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    Paulie Platinum Member

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    Up another 40% today, 60% at mid day.

    I don't think this thing is going to face any severe resistance until around .25, where it SHOULD currently be priced at, factoring in sales.

    I hope some of you are willing to jump on board with this one, it's going to be a fun ride. My investment is already up 400%.
     
  3. Paulie
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    Paulie Platinum Member

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    I was right about this one, it faced resistance at .28, pretty close to my .25 prediction.

    Then it fell and came back to .21 and crashed on something that appears to be a manipulation scheme. A lot of unsubstantiated bullshit being used to try and make them out to be pump and dumpers.

    What is happening to them is EXACTLY what was described in the documentary Deep Capture, where a man exposes the tricks of the trade of the insiders manipulating stocks via naked short selling. It actually has pieces in there showing blatant lies by Jim Cramer, who's actually ADMITTED to maniupulating stocks with naked shorts.

    SPNG is chock FULL of failure to delivers right now, and short interest is crazy. They're waiting on a 10k to be re-audited, and if the numbers look like what SPNG claimed, this stock is going right back up to at least .20 again.

    Might want to think about due diligence on this one and possibly making a little play. Naked short sellers control the ball game, folks. Don't be beaten by them!

    I was right about this stock twice, now go and buy some BIEL!!
     
  4. rdking647
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    rdking647 VIP Member

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    can you say pump and dump.....
     
  5. Mr. H.
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    Mr. H. Diamond Member

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    Where's Jennifer?
     
  6. Paulie
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    Paulie Platinum Member

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    This one I'm more inclined to think you're right.

    They've withheld their 10k now for over 2 months.

    And they won't release their O/S count.

    I didn't sell at .20 when the 10k anticipation was increasing the price, but I have still made a nice chunk of change on it.

    The jury's still out on it, though. It's heavily naked shorted, full of FTD's, and there's just as much reason to believe the shorts are manipulating it as there is to think management is duping shareholders.

    With guys like Cramer and Tim Sykes out there, I don't anything past ANYONE.
     
    Last edited: Nov 2, 2009

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