Tobin Smith and IWEBTobin Smith is pushing iweb because of its cloud potential. Is this worth discussing?
Do you have a take on this? Thanks.
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Short answer? Tobin Smith’s firm, NBT Equities, is being paid $90,000 to push IceWeb (IWEB) … so no it’s probably not worth discussing.
Doesn’t mean the company can’t amount to something someday, but if it trades for a few cents and it is being actively promoted like this there often isn’t much of a reason to want to own the stock. The promotion is actually being paid for by IWEB, not a third party trader, so it’s probably not a “pump and dump” as we see so often, where they’re just driving the stock up so investors who bought in before the ad campaign can sell it … but it could easily be an attempt by the company to massage their share price up a bit so they can raise some more money, or, if they’re of more questionable ethical fiber, for the insiders to sell shares. I have not checked the financials, but my guess would be that they’re pretty stinky.
When you get an ad where the name and ticker of the stock are mentioned in glowing terms like this one, always take a quick scan of the disclaimer — in this case it reads, in part:
“… you are hereby advised that IceWeB, Inc. has paid NBT Communications $60,000 cash and $30,000 of IWEB restricted stock for sponsored research and investor awareness advertising. NBT Communications has not determined if the statements and opinions of the advertiser are accurate, correct or truthful…..”
Tobin Smith used to run some “legit” newsletters under the ChangeWave name that were published by Investorplace Media and that provided unsponsored research, but he stopped doing that a while ago to become a “investor relations” pressman and consultant with campaigns like this one, though I think he’s also still a TV pundit on some of the money shows.
I get a few “teaser” emails; after skimming over the content,
I sign in to Gumshoe and READ what the “teaser’s” email was all about.
I love it.
Vippennystocksite dotcom (Dot means .), is a site that provided me with a report that helped me analyse the movements of IWEB stock