It's so blatant that it's actually astounding.
These are the facts only:
There was an extraordinary spike in CMC's volume starting on February 3rd. The stock closed at 10 cents that day, up 17.5% on 15.5 million shares. The volume was many times its previous average volumes.
As far as I can tell, there was nothing to account for it. There was no material news.
Over the next 15 sessions, the stock quintupled on what can only be described as aberrantly high volume. It rose from 10 cents to .495 in 3 weeks. Again, it did this for no apparent reason.
Bob McWhirter appeared on BNN on February 26th, saying that Cielo Waste Solutions was his biggest holding by far, and suggested that it had more potential than Xebec, which he pointed out had gone from 10 cents to $11.00 recently, and in which he stated very clearly he had participated very profitably. He actually made it sound as though he had bought at 10 cents, and sold at eleven dollars. He further suggested that his target for Cielo was $8 .
He had just mentioned earlier in his diatribe there are over 600 million shares of Cielo outstanding, fully diluted.
That day Ciello was up 81% to close at 90 cents on 49.7 million shares. It was Friday.
The following Monday, Ciello hit a high of $1.62, and closed at $1.28 on 51.6 million shares, its highest-ever volume. That was the very same day the company issued the following statement at the request of the exchange:
Cielo Waste Solutions (CSE:CMC), (OTC:CWSFF), (CNSX:CMC.CN), (WKN:C36) ("Cielo" or the "Company"). At the request of IIROC, the Company wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.
That was on Monday. McWhirter had issued his $8 target the preceding Thursday.
With 600+ million shares outstanding, hypothetically of course, at $8 the company would be capitalized at $4.8 billion. This is a company that recently reported its latest 9-month revenues were $4.200.
On the the Monday 2 business days following his appearance on BNN, the stock hit a high of $1.62, and closed the day at $1.28.
It has never closed higher since.
I understand "B.M" has admitted he's lightened up since then.
The Canadian regulatory authorities are pathetic. I actually find it embarrassing, and I don't even work there.
I don't work anywhere. I'll be 62 in June. Good luck finding a job when you're 62.