St0ck Mogul Newsletter – Pump & Dump

This weeks selected “pump and dump” stock fraud comes from the “St0ck Mogul Newsletter” (misspelled with a zero rather than an “o” in a futile attempt to evade spam filtering).

The pumped stock is RightSmile, Inc. a pink slip “penny stock” trading as “RIGH” that actually trades as low as 2 cents some days with volume often under 10,00o shares.

Recently the stock has been pumped as high as 4 cents on very light volume, but it’s currently just over half that amount so this is probably already in the “distribution to suckers” phase, or the “dump” after the “pump.”

We’re not stock pickers here, and have no financial comment regarding the  company, but we certainly recognize a “pump and dump” stock fraud email campaign when we see one; and what we’re seeing now are emails such as this:

TICKER: RIGH MARKET: Pink-OTC
CURRENT PRICE: .025
52 WEEK (H) 0.32 52 WEEK (L) 0.01
OUTSTANDING SHARES: 238,000,000
FLOAT: 38,000,000 (as of 3/9/2010)

COMPANY OVERVIEW

RightSmile, Inc. is in the business of providing cosmetic teeth
whitening products, which is an industry estimated at $11+ billion dollars per year, to retail establishments.

RightSmile offers its four step whitening products exclusively through authorized retail establishments known as SmileShoppes. The primary vertical markets of potential SmileShoppes are beauty, hair, nail and day spas, of which the 2002 US Economic Census indicates there are 474,367 establishments in the category of “Beauty Salons” alone.

The email goes on, but suffice it to say that rather than following bogus investment advice on penny stocks from hijacked email accounts, you could instead just mail the spammers a check and avoid the unnecessary fees involved in buying and selling actual stocks.

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