Shares in the penny stock of Regenicin, Inc. (OTC: RGIN) were off to a much deserved Bull Run until circulation of Jim Cramer’s TheStreet article. The first trade of RGIN stock went through at 0.285 and was up to as high as 0.44 within 8 minutes of the open and then began to slide like a bad toupee off the bald head of that loud mouth idiot from CNBC. The penny stock wound up right back to where we posted it at yesterday, 0.20, still up 25% from our Twitter alert, but far lower than where it should have closed at.
Want to why RGIN went south instead of north? Because of Adam Feuerstein.
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This melee ensued because TheStreet said “Investors were apparently fooled into believing otherwise Tuesday after the nearly bankrupt, penny-stock company issued a press release announcing FDA Issues Orphan Status Approval for PermaDerm.” (see here) Hey TheStreet, and especially you Adam Feuerstein, screaming fire in a crowded theater will get you jailed so I hope you can live by your misguided commentary that could possibly cost burn victims and persons in need of PermaDerm® their lives with the money Regenicin could raise or increase the market value of the Company so they could shop themsleves to a potential suitor in order to fund PermaDerm® trials and eventual production.
This is what we know about Adam Feuerstein: www.exposeadam.com
Adam has been sued by biotech companies for his one sided attacks. Furthermore, his inaccurate reporting has even led to patient safety issues as outlined in this article about Oculus Innovative Sciences (Nasdaq: OCLS). There have been multiple articles written about Adam’s one sided tactics and his questionable timing and release of misleading headlines that can be found here.
TheStreet is by far the dumbest financial information website on the internet today. Need proof? What do you Jim Cramer, or you Adam Feuerstein, have to say about your May 31, 2012 TII Network Technologies Inc. (Nasdaq: TIII) Stock Upgraded article? (see here) You idiots issue a stock upgrade on TIII two weeks after the Company agreed to an acquisition by Kelta Inc. for $2.15 per share that was announced on May 14, 2012. (see here) Not only that, but you issue “hold” rating and never once mention that it was acquired by Kelta.
However, you have the ability to check your facts on Regenicin Inc.? Bull Crap!
It clearly stated in the Press Release that the FDA’s action was the designation of PermaDerm® as an Orphan product. Such a designation has certain benefits to the recipient, but, just to be clear, these do not include the immediate commercialization of the product. The Company will still need to work with the FDA for the development of the product, now with the advantages of the Orphan designation. (see here)
There is another motive at play with these media moguls and it is looking something like February, 2006, when an investigation by the SEC into allegations of collusion between short-sellers and a stock research firm led to the serving of subpoenas to TheStreet.com and Jim Cramer, as well as journalists for Dow Jones and Marketwatch.com. (see here)
STOP SENDING ME YOUR ACION ALERTS PLUS SPAM EMAILS TRYING TO GET $199.95 FOR YOUR TWO WEEK OLD STOCK UPGRADES – WE PICK BETTER STOCKS THAN YOU EVERY SINGLE DAY!
Bottom Line: Everyone who had RGIN stock in their possession today got bent over a park bench without any lubricant and then thrown into TheStreet and run over by a Bus. RGIN should have been the top of the list of all penny stocks stocks today but some mischievous financial commentary had another motive and RGIN stock will get to the level it was expected to trade at, just with someone else holding more shares thanks to Adam Feuerstein and Jim Cramer’s TheStreet.
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