Why I Just Shorted Eden Bioscience Corp (EDEN): TheStreet.com’s Factually Inaccurate Pump And Dump!

As I mentioned in this post, this near 100% runup is entirely due to THIS laughable Thestreet.com article mentioning this failure of a company as a “below-the-radar company that produces Messenger, a highly effective and revolutionary agricultural product.”

I could easily rip the company apart for its $23,000 in revenue in their latest quarter down from $189,000 just a few quarters ago—wow, their product must be really great! Even funnier is their yearly results—revenue of $350k vs. $4 million a few years back. Or before this miraculous article, EDEN was a $3 million company that was forced to do a 1-3 reverse split just two months ago in order to stay listed on the Nasdaq

But I shorted 1,000 shares at $2.55–that’s all I could find, trust me, I wish I could borrow 50k–because I prefer to go to the heart of the matter, the fact that EDEN SOLD OFF THIS “REVOLUTIONARY” TECHNOLOGY AS IS DETAILED IN THEIR ANNUAL REPORT!

From that beautiful annual report, filed on March 28, 2008:

“On February 28, 2007, under the terms of the Asset Purchase Agreement, we sold our Harpin Protein Technology to PHC for $1,396,824 in cash, net of transaction costs incurred after January 1, 2007 totaling $103,176, a promissory note in the principal amount of $700,751 payable on December 31, 2007 and the assumption by PHC of certain of the liabilities relating to or arising out of our Harpin Protein Technology…”

That’s right, EDEN isn’t even in the home and garden business anymore, they’re just a licensee! Gotta quote some more of this fine work of literature:

“Harpin Protein Technology includes substantially all of our assets used in the creation of plant health technology incorporating harpin proteins and the manufacture of biopesticide, plant health and nutrient products utilizing the Harpin Protein Technology. These assets include all intellectual property, contracts (including our license agreement with the CRF and our office and manufacturing facility lease), equipment and inventory related to our worldwide agricultural and horticultural markets. “

LOLOLOLOLOLOLOLOLOLOLOL Once they read this blog post, TheStreet.com is gonna be damn embarassed and they should be!

Like Sri over at CNBC “mistaking” paid for penny stock promotion for useful research, this “reporter” should be fired immediately for he or she has sucked thousands of naive investors by not caring/knowing how to do a little research. Sooooooo many idiots on Wall Street, naive investors, pathetic journalists, welcome to why PennyStocking works.

Now watch this thing tank as I make everyone aware! I expect to cover my short waaaay under $2/share.

TIM Lesson: Financial journalism is a joke, people with s#@$ track records can actually get their useless thoughts read, everybody rushes to judgment, you can profit from all this

I’d like to thank my parents for believing in me, CYGT for helping me understand how pathetic these tiny companies are, CNBC/TheStreet.com for teaching me about the joke that is financial journalism and most of all the freedom-hating SEC, for without you guys turning a blind eye to blatant stock manipulation, there’d be fewer pump and dumps to short sell into…so thank you everybody!

UPDATE: TheStreet.com put out a little correction saying they “incorrectly described…we regret the error…” Too little too late guys, stop focusing on getting hits through so much damn useless content and focus on lesser better content. But since I know you won’t change, I just gotta say thank you once again for the easy profits!

Posted in ANALysts, CNBC, Criminals, Financial Media Circus, idiots, Manipulation, Patterns To Short, Scandals, Short Selling, Story Stocks, TIM Lessons

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one comment

Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

  1. timsykes

    we’ll see how long it takes everyone to realize the stupidity, no reason why this shouldnt go right back to $1.6

  2. timsykes

    we’ll see how long it takes everyone to realize the stupidity, no reason why this shouldnt go right back to $1.6

  3. Davey

    You’ve got a small position in terms of your total capital so this is one you can hold for as long as you think you need to. GL

  4. Davey

    You’ve got a small position in terms of your total capital so this is one you can hold for as long as you think you need to. GL

  5. Margie

    GOOG 12 million shares traded so far and V 10 million shares. V crossed $70 today, and earning is yet to come soon.

  6. Margie

    GOOG 12 million shares traded so far and V 10 million shares. V crossed $70 today, and earning is yet to come soon.

  7. Eddie

    Tim,

    FINALLY just dumped CYGT and closing E*Trade. I’m their big volume play of the day. Valuable lesson… but I’m ready to build some supplemental income.

    Now, to get on board with TOS.

    My eyes are opened, seeing all the potential plays you can make today, playing the “Craps” even with the market soaring.

    Are you still in your short with EDEN?

  8. Eddie

    Tim,

    FINALLY just dumped CYGT and closing E*Trade. I’m their big volume play of the day. Valuable lesson… but I’m ready to build some supplemental income.

    Now, to get on board with TOS.

    My eyes are opened, seeing all the potential plays you can make today, playing the “Craps” even with the market soaring.

    Are you still in your short with EDEN?

  9. lmsmith

    falling nice- I had to call my broker to get shares on this one……. not missing this one

  10. lmsmith

    falling nice- I had to call my broker to get shares on this one……. not missing this one

  11. Margie

    Broker assisted only at AMTD as well with $44 fees….to short EDEN through AMTD, probably TOS or FID does not charge extra.

  12. Margie

    Broker assisted only at AMTD as well with $44 fees….to short EDEN through AMTD, probably TOS or FID does not charge extra.

  13. Margie

    There is no other one than Tim, I ever found online to predict the stocks perfectly. Thanks for your post yesterday Tim, you made me 21 % richer on RDTA today!

  14. Margie

    There is no other one than Tim, I ever found online to predict the stocks perfectly. Thanks for your post yesterday Tim, you made me 21 % richer on RDTA today!

  15. burky

    My first short position with 400 EDEN at $2.50. Love the chat window feature with TOS, I had shares within a couple of minutes.

  16. burky

    My first short position with 400 EDEN at $2.50. Love the chat window feature with TOS, I had shares within a couple of minutes.

  17. be-the-ball

    margie,

    if you are an active trader and you harass AMTD they will lower your commission rate. i threatened to leave for TOS and they lowered to $6 and then $5 for me.

  18. be-the-ball

    margie,

    if you are an active trader and you harass AMTD they will lower your commission rate. i threatened to leave for TOS and they lowered to $6 and then $5 for me.

  19. TechTrader

    Tim-

    Thanks for the heads up on ISRG (earlier this week) which I bought puts on yesterday and popped out of this morning for 59% profit. You gotta love the haters!

    Peace brother!

  20. TechTrader

    Tim-

    Thanks for the heads up on ISRG (earlier this week) which I bought puts on yesterday and popped out of this morning for 59% profit. You gotta love the haters!

    Peace brother!

  21. Max

    well, EDEN is within my initial covering range… you making me greedy Tim, hopefully that’s a good thing…

  22. Max

    well, EDEN is within my initial covering range… you making me greedy Tim, hopefully that’s a good thing…

  23. Max

    liking what I see in the level 2 though, makes me more comfortable being greedy

    I’d probably undercut the ask and attempt to short more, but I don’t want that big a position

  24. Max

    liking what I see in the level 2 though, makes me more comfortable being greedy

    I’d probably undercut the ask and attempt to short more, but I don’t want that big a position

  25. Webster

    BetheBall does ameritrade flag you as a day trader than? I have an account with them and am worried about getting tagged.

  26. Webster

    BetheBall does ameritrade flag you as a day trader than? I have an account with them and am worried about getting tagged.

  27. Jesse

    Man…sometimes I wish my account was setup and I had money in it, just so I could take Tim’s advice…but at the same time I really do want to learn, to be able to find my own plays first…oh well.

    I’m a total noob and really should understand how everything works before I start putting money into the pot, TOSs paper trading is cool, lack of real-time and the ability to borrow kind of sucks though.

  28. Jesse

    Man…sometimes I wish my account was setup and I had money in it, just so I could take Tim’s advice…but at the same time I really do want to learn, to be able to find my own plays first…oh well.

    I’m a total noob and really should understand how everything works before I start putting money into the pot, TOSs paper trading is cool, lack of real-time and the ability to borrow kind of sucks though.

  29. Sean

    nice short, hope you shorted ABPI like i reco’d earlier also…….also, for one that should be a nice play for a couple bucks next week, RUNU, this company is a sham, but they run a good promo…looking to sell by wednesday with a double.,….

  30. Sean

    nice short, hope you shorted ABPI like i reco’d earlier also…….also, for one that should be a nice play for a couple bucks next week, RUNU, this company is a sham, but they run a good promo…looking to sell by wednesday with a double.,….

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  33. umair

    hey tim thanks for your honest efforts….is it too late to short EDEN???? also i wanted to ask about using margin to trade??? u think its worth it???

  34. umair

    hey tim thanks for your honest efforts….is it too late to short EDEN???? also i wanted to ask about using margin to trade??? u think its worth it???

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