Shares of Great American Energy ( SRBL ) continue to be pimped into a fourth month of insider dumping, creating additional bag holders and more investor losses along the way.
Shares were entirely held by these dumpers at the February 19, 2013 start of this massive Pump & Dump and for some inexplicable reason, there continues to be an appetite for them, in spite of losses of over 50% for many, as the share price has headed due south since March 13 .
Looking at the compilation of trading summaries gleaned from The Nightly for days on which promotional newsletters were emailed out to gullible investors, we see the perfect illustration of why it is never a good idea to expect miracle returns from a long term Pump & Dump. Even day traders have had a difficult time picking out spots for any real returns, and many have carried forward losses.
SRBL Trading Summary - Updated 05/28/2013 (Click to Enlarge)
Expect this one to trade down to the single digit pennies in the coming weeks, as insiders begin to relentlessly dump the remainder of their free-trading stock, still trading at 50 times book value.
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