Barrons Is The Latest Old Media Company To Be Proven Obsolete
Posted by timothysykes on Sun 18th of May, 2008 01:15:38 PM
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Remember about a month ago when I wrote those 2 posts (HERE and HERE) about the sketchy pig farmers over at Agfeed Industries (FEED)?
Their two financing deals, after a flurry of too-good-to-be-wholly-accurate press releases, set off my probable pump alert and even though I wasn’t playing the stock, I felt the need to warn investors about how the smallcap capital raising game works—basically you spend thousands on PR, giveaway a few percentage points to encourage scummy peddlers (better knowns as brokerage firms) do financings, schedule a bunch of PRs to paint the rosiest picture possible and then raise capital for your crappy biz at inflated prices, preying on investors’ greed as your stock is manipulated to surge higher, making these investors believe they are getting in on the ground floor of some amazing story.
It’s ugly and I’m not gonna make too many friends telling everyone about it, but that’s how the game works. Now, only a month late and $129 short (their subscription rate), Barrons comes to the exact same conclusion, although mistakenly focusing on only-important-to-obsolete-old-world-media-statistic, insider sales, which will surely tank the stock tomorrow, educating those investors who bought in at high prices. HERE’s the absurd subscription-required article and HERE’s the free pirated version…I wonder which one you’re gonna click?
Oh yeah, and HERE’s the free version to yesterday’s article about short seller Doug Kass.
Goddamn these stuffy old world media companies that mistakenly believe their crap is worth any premium whatsoever! As evidenced by my beating these premium-charging “professionals” to the story by an entire month, they better change their business model cuz with the scalability of my blogging-based publishing model, soon I’ll just steal their reporters away.
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