After the promoters being wrong on the date multiple times, I finally received the spam email containing the pick this morning. I was completely right on picking the correct OTC stock. $ARWD.
Unfortunately, $ARWD did basically nothing today. It has millions of shares traded, but that’s how low priced OTC stocks trade. Clearly this promoter is trying to build a subscriber list to get people to buy. As more people receive these emails maybe we’ll see it spike but I doubt it. There was no compensation disclaimer in any of the emails so this is probably just someone trying to manipulate the stock to get the price up. It could very well be a bag holder that is stuck in it and wants to get out.
I guess by “small share structure” they mean the float/shares outstanding. According to Yahoo finance the # of shares is 767M - which is crazy high. There are plenty of low float stocks on NASDAQ that are capable of running more than this stock. It’s possible they could do a reverse split in the future to bring the price up, but I’ve never seen an OTC stock do that yet. NASDAQ’s do it to stay listed (see $DRYS and $TOPS).
I’ll try to check up on this stock every few days to see if it moved at all. I have absolutely no plans to trade it.
Update: I do not believe this to be from a stock promoter. This is just someone giving hot picks for penny stocks. But why go through the trouble of creating an email list and announcing it at 9:29 AM?
I am not a registered financial adviser/broker/anything. Use this information for entertainment/informational purposes only. Any tickers mentioned are not recommendations to buy/sell/or sell short. They are used as examples only.