Portfoliowealthglobal.com Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
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Country United States
Victim Location GA 30269, USA
Type of a scam Investment
Initial means of contact Not applicable
Investment Scam
For example, when he RECOMMENDED (bulled) Triumph Gold, he compared the company with SolGold, saying: " Triumph Gold (TSX-V: TIG & US: TIGCF) shares so many points of RESEMBLANCE to these cases that you must consider making it a core position IMMEDIATELY. On the London stock exchange, SolGold, a company that is really close to Triumph Gold’s business model, recently went from a market cap of $35M (a bit more than what Triumph Gold is presently valued) to $1.5B, a 4,285% return."
He followed this with a further statement: "This couldn't be more BLACK AND WHITE; if I had to liquidate my entire portfolio and buy only one stock for the next 12-18 months, I would go with Triumph Gold (TSX-V: TIG & US: TIGCF). This is the biggest thing I've ever come across – literally."
As it turned out, from a price (adjusted for a 10 to one reverse stock split) of roughly $4.00, the stock declined to a low of around $0.60 over the next 18 months, a decline of ~85%. And, given his outlook for higher gold prices, the price of the stock should be supported on out to future years, not just to 12-18 months. The stock today (May 22, 2024) has a price of around $0.18, a decline of over 90% compared to when it was recommended. This same pattern occurred for other stocks bulled by Tom Beck such as International Iconic Gold Exploration Corp. (MFMLF), Winston Gold (WGMCF) and other low-priced stocks.
By all appearances, Beck has used this technique periodically, in which he picks a stock with a low valuation, then puts out a compelling recommendation which runs the stock up to much higher prices, only to see the stock decline to prices which would show huge losses as they drop to baseline valuations. It would appear that he is front running these recommendations, that is, buying a position in the stock, then bulling it to much higher prices and selling for large profits. While I have no proof of this, it appears to be highly probable. It would be interesting to see his trading records on these recommendations.
Bottom Line: DO NOT BE RIPPED OFF BY THE OVERSTATED BECK BUY RECOMMENDATIONS! STAY AWAY!