NEW YORK (TheStreet) -- Two articles touting Galena Biopharma(GALE_) were removed from Seeking Alpha Monday because they were written by the same person using different aliases.
This is the second time Seeking Alpha has been forced to take action against individuals using multiple aliases to tout Galena, a small drug developer with a breast cancer vaccine in a phase III study. In January 2013, the investor Web site removed five articles promoting Galena written by the same individual under three different pseudonyms.
The most recent incident is more serious and potentially damaging because of evidence linking Galena to a stock-promotions firm which wrote and published the articles on Seeking Alpha. The articles were part of a broader, coordinated "brand awareness campaign" designed to boost Galena's stock price, according to a document obtained by TheStreet.
Aided by this promotional campaign, Galena shares tripled in value from this summer. Coincidence or not, Galena insiders have made millions of dollars by selling company stock in January.
Galena did not respond to phone calls and emails seeking comment.
In July 2013, Galena paid $50,000 to a subsidiary of The DreamTeam Group for 240 days of "advertising, branding, marketing, investor relations and social media services," according to a disclaimer on The DreamTeam Group's Web site.
[Update: Following publication of this story, DreamTeam Group removed the Galena compensation disclosure from its web site. Here is the screen shot disclosing Galena's payment to DreamTeam Group.]
Publicly traded companies routinely pitch their stock to new investors, but some of DreamTeam's marketing tactics appear to rese
All I'm saying is take these SA "writers" with a big grain of salt.
They work from their homes at $29 an hour.
Doing a search one time SA had a hiring ad on line, hiring "article writers", do a search yourself, maybe they're hiring right now and maybe not. All they are is glorified Yahoo message board posters. Take a look at the AFFY Yahoo site and look at those SA "writers", from a few months back, and see just how unprofessional these clowns are. One of those "writers" is actually a regular poster on that message board.