Michael Arrington Of TechCrunch Is Either A Hypocrite Or Was He Compensated To Feature This Penny Stock Pump & Dump?

PennyStocking Silver subscribers and TIMalert subscribers know that for many months now I’ve railed against CrowdGather Inc (CRWG) and Michael Arrington and TechCrunch featuring the pump and dump multiple times:

1. To get Crowdgather’s stock price up, Crowdgather’s stock was manipulated (as you can see from the 1st spike in the longterm chart below) with this $300,000 misleading promotional mailer calling it the next Google Inc. (GOOG), despite the fact that this dollar amount was many, many times more $ than the company had in cash in the bank and it even is greater than any quarterly revenues in the company’s history…and at it’s pump peak of roughly $2.30/share, Crowdgather was valued at $130 million.

2. After that first mailer-induced spike as you can see in the multi-year chart, there was a second artificial spike too:

Penny Stock Pump & Dump

Penny Stock Pump & Dump

…caused by someone (my guess is Sanjay knows who even though I bet he’ll deny who if ever brought to justice…that’s right SEC, you’re gonna have actually do some investigating, are you up to it?) paying for this $200,000 misleading promotional mailer claiming internet leaders like Yahoo! Inc. (YHOO) and Microsoft Corporation (MSFT) and GOOG would get into a bidding war for Crowdgather (this defies logic given that Crowdgather has the single least profitable niche, as evidenced by their own billions of page reviews yet scant revenue, in all of online advertising: forums…the internet leaders already know this (as should Arrington & TechCrunch), but suckers who believe the promotional mailers don’t)

3. Despite having revenue of just $300,000-$400,000 per quarter, aka roughly $1.5 million/year run rate, Crowdgather’s losses have been hovering around $3 million/year for the past few years…not exactly promising.

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4. Like EVERY other penny stock pump and dump, all that pumping was specifically executed to pull off the dump, in this case, Crowdgather CEO Sanjay worked together with The Devil’s Advocate-like toxic financing firm Rodman & Renshaw Capital Group Inc. (RODM) to pull off a multi-million toxic financing at artificially inflated prices.

5. Remember Rodman is a firm that accomplishes its toxic financing deals in part via telemarketing as the morons even telemarketed me once!

6. Crowdgather CEO formally rejected my idea to publicly debate whether or not his company was a blatant pump and dump and he didn’t even bother sending me a cease & desist letter objecting to my calling his company a blatant pump and dump in these nearly half dozen articles, thus admitting his company IS a blatant pump & dump (ie if someone calls me a scam, I retaliate with public posts and debates defending myself and pointing out why my critics are wrong…like this post aka the mark of an honest businessman…and ironically my publishing company actually does more than the $300,000-$400,000 in quarterly revenue than Crowdgather does and we don’t lose $3 million/year, we actually profit nearly $2 million per year…does that mean my company should be valued at $130 million or perhaps $260 million or $390 million given my profits LOL (no))

So yes I get emotional writing about Crowdgather because sadly I know how the story ends as i’ve seen it far too many times: the stock crashes 90%+, subscribers of my 4 newsletters either clean up if we can find shares to short like we did HERE and HERE or I just expose it simply to teach people not to be so ignorant the next pump around and then I start getting contacted by people who got crushed thousands to tens of thousands of dollars on the pump and dump, believing the promotional mailers, people like this, asking if ther’es anything they can do to get their hard-earned money back, so I point them to my free 20-video educational series and I make spoof videos to help people understand who these promoters are and what they do: (several promoters congratulated me on this video although they said they’re more into Viagra cocktails than cocaine…who knew!)

Crowdgather is no different as the stock has already dropped 70%+ and a few longterm bagholders have complained to me, asking what the heck happened to such a “fast growing internet company” and I’m guessing there’ll be more soon as I have little doubt the stock will continue dropping just like most every other pump and dump whose stock has been manipulated.

But Crowdgather’s pump was different in that during the paid-for promotion/pumping period, TechCrunch, the single most highly respected technology blog, and their lead writer Michael Arrington, featured Crowdgather HERE quoting one of the many press releases Crowdgather used as exhibits to accompany the paid-for pumping.

Now as evidenced by Arrington’s solid $25-$40 million exit for selling TechCrunch to AOL and his team’s vast experience in researching and writing about internet companies, not to mention my multiple blog posts warning him that Crowdgather was a blatant pump & dump, TechCrunch wrote a followup feature on Crowdgather HERE.

Neither TechCrunch nor Michael Arrington have replied to my blog posts, tweets or emails regarding this situation, which is strange to say the least.

I couldn’t help but comment on a recent Arrington article where he trashed rent-your-home startup AirBnB for basically ignoring some of their customer’s complaints at first and only compensating them and instituting customer service changes (now they have a 24-hour hotline and insurance up tot $50,000, blah, blah, blah damage control blah blah blah) after the story began to get some serious publicity.

Why is Arrington is trying to sweep this Crowdgather situation under the rug too? It also begs the question; how could TechCrunch, a publication so knowledgeable and experienced, write about a blatant penny stock pump & dump, especially after being warned in multiple ways by me, the authority on penny stock pump and dumps (don’t let my cheesy marketing fool you, ask around, NOBODY has busted more pump and dumps than me…not to mention my short selling pump & dump strategy has made me the #1 ranked trader out of 60,000+ on Covestor the past 4 years aka i know my shit and my newsletter subscribers reap the benefits)

Given that we know several people in the mainstream press such as FOX’s Tobin Smith and Charles Payne (see evidence of his beautiful stock manipulation for which he already paid a fine once before) get compensated to feature penny stock pump and dumps, and even popular political commentators like HumanEvents.com send out pump and dump email to their lists in exchange for bribes, Michael, have you or TechCrunch ever been compensated to feature Crowdgather just like the other promoters who featured this stock were or are you simply a hypocrite for trashing AirBnB about ignoring their customers (readers in this case) while you do the exact same until they make a big enough stink to require your reply?

Either way, it’s sad and although I’m no lawyer, if I was a bagholder who lost a ton of money on Crowdgather, I would certainly be coming after Arrington & TechCrunch for legitimizing this pump and dump with their feature articles.

Posted in Analogies, Videos

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2 comments

Timothy Sykes

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