Some professional stock traders and businessmen are crying "foul" and accusing the company of being a "pump and dump" scheme. One referred to it as "Cirque du Anselmo."
"Pump and dump" is a practice by which a large group of people buy into a low-priced stock and start touting the equity. This is most frequently done on the Internet. Then when others buy in at an inflated price, the group sells and makes a profit while the investor is left holding a large loss. "The whole 'fuel technology' [LRCWF] that's 'decades old,' yet without a 'single drop,' for me just reeks of fraud." Meanwhile, Silverado's CEO, Garry Anselmo, considers any suggestion that his company is a "pump and dump" to be "bulls--t." He added, "Sure we promote it, but there is no 'dump.'" |