Another call out on one of the crap penny stock picks being circulated. James Connelly, aka Penny Stock Prophet, is getting paid to tell you about the penny stock of Elevate Inc. (OTCBB: ELEV). Are you kidding me!?
Shares in the penny stock ELEV traded 11,050 shares in the last trading session. You people pay him for these kind of picks when we give out better penny stock picks for FREE! You can’t even get a chart on this crap penny stock on StockCharts.com. Even worse, OTCMarkets.com quote for ELEV shows: “Cannot read property ‘lastSale’ of undefined“
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Penny Stock Prophet’s new pick is trading under $1 dollar (Fact) and just announced some incredible sales numbers, as well as stellar year-over-year revenue growth! Seriously!? You tell your subscribers this crap?
ELEV filed their 10-Q for the quarter ended November 30, 2011 back in January (Jan. 19) and as for the dressing up of the words, Sales and Revenue are the same thing and what difference does it make if Cost of Sales was higher than that of the Sales, Revenues, whatever you call it. (see 10-Q here)
The last correspondence available under the SEC filings was the SEC letter issued to ELEV questioning their 10-K for the year ended May 31, 2011:
We remind you that our comments or changes to disclosure in response to our comments do not foreclose the Commission from taking any action with respect to the company or the filing and the company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Exchange Act of 1934 and all applicable rules require.
See SEC Generated Letter Here
James Connelly, aka the Penny Stock Prophet (I actually cringe typing that), wants you to believe that he actually went out looking for ELEV claiming that there are stronger performances with stocks trading closer to the $1.00 mark. He got paid $30K to tell you to look at ELEV.
Show me please how this guy can give you any secret to turning $1,000 into $1 Million. In Fact, everyone who sees a click-ad for pennystockprophet.com should click it so we can get this guy off the circuit.
He tells you that lower priced stocks offer big swings from volatility, micro-cap stocks tend to enjoy much more stability as they approach $1.00 levels. How much more volatile could you possibly get on this piece of crap stock pick?
ELEV 3 Month Stock Chart:
5 Day Average Volume 4,073
10 Day Average Volume 5,504
20 Day Average Volume 9,465
30 Day Average Volume 8,016
50 Day Average Volume 8,080
100 Day Average Volume 6,924
200 Day Average Volume 8,546
Ytd Average Volume 7,058
This stability is important? Ground floor opportunities? A new company on the verge of entering into its initial growth stage? GTFOH!
$97 For a membership when he is going to entice you join up by giving you ELEV as a free pick? There were 7 trades on the stock on Thursday.
LIQUIDITY! Where is it?
Bottom Line: Penny Stock Prophet and all those “scroll down for 45 minutes and still not reach the bottom” website campaigns for penny stock picks are all crap. ELEV will trade crap volume and go no where. The company Elevate Inc. provides data, voice, video, mobile and security solutions in 22 major markets through a network of independent Certifiable Geniuses.
Their penny stock is being pumped by an idiot who is taking your $97 when you can get better stock picks right here for FREE!
Disclaimer – The views expressed are solely the personal opinions of a very wound up editor. We have no direct knowledge of any of the activities of the cash teacher except what is received by email as a subscriber to the cash teacher newsletters. Any and all statements made are purely educated guesses by an industry insider, and are not intended to be represented as facts. This editorial is for entertainment purposes only, and not meant to be represented as anything other than that.Share