Nevada Gold Corp. (OTCBB:NVGC) Pump Ends in Disaster

Yesterday I wrote that the Nevada Gold Corp. (OTCBB:NVGC) pump job could still hurt, and it probably hurt a lot as the SEC temporarily suspended NVGC stock.

Even without the suspension people would have lost money on NVGC, but with it, losses are certain and they will be huge. Previous pumps suspended by the SEC have resumed trading on the Grey Market, at prices around 90% lower than the prices before the suspensions.

The company hasn’t made any comment on the suspension so far, nor have we received any new emails from Stock Castle, the pumper which had been touting NVGC.

Lately the SEC seems to have stepped up its efforts to smother pumpers on the OTC. On Monday, Life Stem Genetics, Inc. (OTCBB:LIFS), another big budget pump job, got suspended.

Back in October, the notorious pumper outfit Awesome Penny Stocks (APS) threw in the towel after the SEC suspended two of their pumps in a row. PennyStocks.com, a newsletter which we suspect was affiliated with APS tried to have a go on its own with Press Ventures, Inc. (OTCMKTS:PVEN), but it got shut down too.

It’s not clear whether the suspension of NVGC will put an end to the pump jobs of Stock Castle, but the pumpers should realize they are now on the SEC’s radar, and further attempts are likely to meet the same fate. Hopefully, our readers stayed away from NVGC, and managed to avoid a nasty surprise for Thanksgiving.