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Portage Resources Inc. Message Board

  • mfr1968 mfr1968 Jul 12, 2011 2:34 PM Flag

    STREETSWEEPER SAYS SELL

    TheStreetSweeper has added Portage Resources (POTG.PK) to its “Caught on Radar” list of highflying – and heavily promoted – stocks ahead of a full-blown investigative report on the company. Fueled by an aggressive publicity campaign, overseen by the same notorious outfit that financed similar promotions for such ill-fated penny stocks as Clicker (CLKZ.PK) Horiyoshi Worldwide (HHWW.OB), POTG has seen its stock rocket from roughly 10 cents to $1.10 a share – with its market value now approaching an incredible $700 million – just weeks after magically reinventing itself as a valuable miner sitting atop billions of dollars worth of assets despite its near-empty banking account. If history serves as any guide, POTG could soon follow the same ugly path blazed by CLKZ, HHWW and a string of other doomed penny stocks once celebrated by the same paid promoters who have long since moved on (with fatter wallets) to embrace POTG as their current favorite instead.

    TheStreetSweeper, through its members, has placed a bet against POTG in anticipation of that expected fall. It began establishing a short position in POTG on July 6 and has now shorted a total of 104,500 shares of the company’s stock at an average price of 80 cents a share. It expects to profit on future declines in the stock by covering its short position at a lower price and will fully disclose the details of its transactions as they occur.

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POTG
0.002+0.001(+33.33%)Aug 28 3:50 PMEDT

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