Here is the full article on the Alaska Dispatch website. The article was about Polar Petroleum, which is located in Anchorage, Alaska and was recently had trading suspended by the SEC about two weeks after I wrote about it on Seeking Alpha. Here are some excerpts from the article.
Concerns about the company were first raised on the Seeking Alpha investment website by columnist Chris Drose, who analyzed what information was publicly available about Polar, and noted how “phenomenally bad the fundamentals behind the company are” as well as Polar’s decision to pay promoters, something that quality companies don’t do. He and others raised concerns it could be a “pump and dump” scheme, where existing shareholders attempt to drive up the value of a nearly worthless company, enabling them to dump the shares they own on unsuspecting investors. “The only thing I can recommend to is stay as far, far away as possible from this company, which I believe is a fraud,” Drose wrote in May.
Drose said he doubted the company was worth anything, and predicted the shares would wind up at zero. “I fully expect it will trade there soon,” he said
So there you go! By the way, the only legitimate reason for this stock to go up is shorts covering. Or some idiot speculating in it, you would have to be a complete moron to buy this stock right now.