PHOT Growlife stock just got halted this morning by the SEC. According to an alert by Tim Sykes, PHOT was halted due to stock manipulation. You might be wondering why I am sharing this news especially if you don’t trade stocks yet, know nothing about the weed sector or Tim Sykes. Well there is a very good reason for me sharing this information.
For the last several weeks Tim Sykes has been exposing a very lucky (& half a million dollars richer) newbie trader (or stock pumper) called the Wolf of Weed Street.
“I trade mainly on sentiment & leave the more technical aspects to other Wolves, but I do chart. I have a group of traders that pool resources & $$$ to make the #Wolf-Fund. My persona on twitter @wolfofweedstreet only discusses Marijuana related stocks. I Am the Wolf of Weed Street and while I love profits, I hate scammy companies that trade on over hyped pr’s 3x a week and Unicorn farts. I am here to bring balance to the #MMJ universe…But always do your own DD and invest wisely.”
The responses to Tim from fans of the Wolf pack have been the ugliest of the ugliest. People have called him everything from a LIAR to a C–KSUCKER. (much much worse but I am a family man now so…)
You see Mr. Sykes loves to expose stock pumpers and the Wolf of Weed Street fits the pumper profile. The Wolf is a man (nobody knows exactly) who has built up a cult following by sending out free HOT stock picks related to the weed sector. People have made a significant amount of money in a very short amount of time because of his alerts. On the contrary some people have lost a significant amount of money as well. However, Tim has always felt that this was stock manipulation at its worst. Some have called Tim jealous of the Wolf and others have said he was taking advantage of a marketing ploy by exposing Mr. Wolf so aggressively.
Watching this all unfold while I go through my millionaire challenge journey has been an amazing real life lesson. It has taught me about the ugliness of the stock market. It has taught me that you must do your own investigating of all sides. It has taught me to be careful of sheep in wolves clothing. No pun intended. Lastly, it has also taught me that posts like these are a great way for me to share with you the things that you will learn about as a Tim Sykes’ student.
WOW WHAT AN EDUCATION!!!
Anyway, although there is no evidence that the Wolf of Weed Street is the reason the SEC halted PHOT today it is interesting to note 3 things.
- It’s in the same sector he promotes.
- All of the Wolf’s weed picks have gotten crushed lately.
- You can no longer view the Wolf of Weed Street’s tweets as they are now protected.
It might not be the Wolf but it might be someone from the wolf pack. Hmmmm.
To learn more about what Tim Sykes has said about the Wolf of Weed Street please click here.
To read what the SEC has said about PHOT please click here.
Update – It just keeps getting better. Tim Sykes and the Wolf of Weed Street spoke for a half hour over the phone and Tim apologized for his passionate harsh words. You can read the post by Tim here.