Titan Machinery today lowered FY2018 guidance which CONFIRMED that its Q1 Conference Call in May was another PUMP AND DUMP.
Just 90 days ago when Titan reported another huge quarterly miss (loss) the stock was hammered in premarket only to have the Chairman go on the morning conference call at the market open to PROCLAIM that the company although had Q1 losses would BE PROFITABLE in FY2018.
The stock IMMEDIATELY RALLIED and shot up 30% off its morning low!
Within 24 hours the stock SOARED and sure enough the CHAIRMAN DUMPED HIS STOCK.
This morning the Chairman said in the Q2 press release that the Company WILL NOT BE PROFITABLE in FY2018 but instead would LOSE (-$0.35) a share in FY2018!
TITAN MACHINERY HAS BEEN PUMPING AND DUMPING STOCK FOR YEARS but the SECURITIES AND EXCHANGE COMMISSION continues to just looks the other way.
This post will be updated later today after the conference call as the company failed to disclose REVENUES in their morning press release regarding their NEW DISTRIBUTION channel with an entity outside of the AGRICULTURE/Construction Space
SALES DECLINED IN Q2 across every channel:
AGRICULTURE, CONSTRUCTION, RENTAL, SERVICE.
Follow the BELOW LINKS TO SEE HISTORY OF PUMP AND DUMP:
Earlier this year a SEEKING ALPHA author wrote an article saying Titan Machinery hasn't done anything Criminal to make stock go into the pink sheets. HERE IS MY REBUTTAL illustrating all the GAMES.
My rebuttal with links can be found below: