MagneGas' Shares Tumble: Here's Why Monday, Decem
Post# of 22755
Posted On: 12/21/2015 4:37:15 PM
MagneGas' Shares Tumble: Here's Why
Monday, December 21, 2015 12:11 PM
Shares of MagneGas Corporation (NASDAQ:MNGA), a small-cap alternative energy company, tumbled more than 18 percent Monday morning following a scathing report by The Pump Stopper' on Seeking Alpha.
MagneGas' stock has gained around 150 percent since the start of 2015 and hit a 52-week high of $2.50 on December 11.
According to The Pump Stopper, an investigation into MagneGas' business practice reveals that its partners are "nonexistent, defunct or unviable." The report also noted that the company's auditor was barred by the SEC for "falsified and backdated audit documents."
Finally, The Pump Stopper suggested that the company is merely an "imploding paid stock promotion shell" with an "immediate -92.90 percent downside risk."
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This article was written by Jayson Derrick from Benzinga and was legally licensed through the NewsCred publisher network.
Read more at http://thestockmarketwatch.com/news/read.aspx...yXlsbuB.99
Monday, December 21, 2015 12:11 PM
Shares of MagneGas Corporation (NASDAQ:MNGA), a small-cap alternative energy company, tumbled more than 18 percent Monday morning following a scathing report by The Pump Stopper' on Seeking Alpha.
MagneGas' stock has gained around 150 percent since the start of 2015 and hit a 52-week high of $2.50 on December 11.
According to The Pump Stopper, an investigation into MagneGas' business practice reveals that its partners are "nonexistent, defunct or unviable." The report also noted that the company's auditor was barred by the SEC for "falsified and backdated audit documents."
Finally, The Pump Stopper suggested that the company is merely an "imploding paid stock promotion shell" with an "immediate -92.90 percent downside risk."
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This article was written by Jayson Derrick from Benzinga and was legally licensed through the NewsCred publisher network.
Read more at http://thestockmarketwatch.com/news/read.aspx...yXlsbuB.99
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I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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