Pump and Dump Schemes Collide with Twitter

Big Money Mike and his bullish online persona epitomize the modern day pump and dump scheme.

About a week ago I stumbled across @BigMoneyMike6 on Twitter. I quietly chuckled to myself reading the ridiculous antics and irrational promises. I assumed Big Money Mike must surely be a well documented scam artist. There is no way his 2 million followers actually buy into his picks. Or as he calls them, “The King Kong Alerts”.

A Google search left me thoroughly disappointed. Most links were to his Twitter page or past picks. I found only one website denouncing him as a pump and dump scheme. Seeing an opportunity and also being afraid people might actually buy into his picks, I decided to sign up for Big Money Mike’s email list. I am now a member of #TEAMBILLIONAIRE.

The day after signing up, I received one of the poorly written emails I’ve yet read.

The Email

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Alright Big Money Mike, you ridiculous man, I’m ready for 1000% profits. But why the **** are you including links to travel sites?…Below is the rest of his email. Double check his very, very conservative math for potential returns.


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Big Money Mike is implying PUGE or Puget Technologies, Inc. is the next big discount travel website. Yet he legitimately provides zero evidence to substantiate his claim…This is the secret to 1000% returns?


Because Big Money Mike doesn’t believe in researching his investments (bold stance Mike) I delved deeper into PUGE. First off 15 million shares is not a small float (number of shares actually available for trading). Low floats have under a million shares. Let’s take a closer look at PUGE to see if what he is saying could be true.

Puget Technologies acquired a small online travel technology firm within the past year and is trying to use the acquisition as leverage to buy more. Puge also claims to be developing technology to improve, streamline and reduce costs for online travel. The information provided is rather vague (although the beach pictures are aesthetically pleasing) and no products are sold are on the site. Fortunately the Securities and Exchange Commission offers data on publicly traded companies.

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Puge has no sales, is losing money and acquired its travel tech company for 25k. The company is borderline floundering and probably not going to provide the next big breakthrough in travel. The operations financials make it seem as if the company could be a charade.

The SEC filings determine PUGE is a shaky buy at best. And a money down the drain scenario at worst. So what does Big Money Mike have to gain by promoting it?

He and his cronies buy significant chunks of the penny stock, a few days later announce it to his #FAM or email list as a hot stock and finally he announces the stock on social media. Twitter becomes a stream of spam from his accounts after a release. By this time Mike’s purchases have settled and the penny stock climbs in value.

As the equity price increases due to a sudden influx in demand, Mike sells off the stock he bought a week before everyone else. This causes an immediate crash in price and volume. In the PUGE scenario, the price has already returned to pre-pump levels in about eight day. Big Money Mike is raking in substantial profit for pushing stocks, at the loss of his fam. The concept is simple and he’s been able to recycle this social media based pump and dump.

This is what Mike’s pump and dump scheme looks like graphically.
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He probably bought in on or around July 12th for four cents a share. He then sent emails to his email list and finally spewed marketing on social media. Mike probably sold off a chunk when the stock peaked around ten cents.

He is able to generate hype around a shoddy penny stock and turns the hype into personal gain. Some may be able to profit from anticipating Money Mike’s movements, but most are suckered into buying a shit stock. My advice is to stay away from Big Money Mike and his goons. The #Fam isn’t real and no one is becoming a billionaire from these penny stocks buys (not even Mike).

Overall is scary to know Big Money Mike is making a killing off a Twitter based pump and dump scheme. I encourage investors to be aware of the motives of an individual offering “hot stock picks” or “get rich quick” means. Also please share this article with anyone considering taking financial advice from @BigMoneyMike6.

If you would like to read more the website, theotc.today provided another case study of Big Money Mike and China Teletech Holding which can be read here.

This is what the Twitter page of a pump and dump scheme looks like