{"id":5233,"date":"2013-01-04T18:44:25","date_gmt":"2013-01-04T22:44:25","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=5233"},"modified":"2013-01-04T18:44:25","modified_gmt":"2013-01-04T22:44:25","slug":"geoinvesting-correctly-predicts-longwei-petroleum-trading-halt-shares-plunge","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/geoinvesting-correctly-predicts-longwei-petroleum-trading-halt-shares-plunge-5233","title":{"rendered":"GeoInvesting Correctly Predicts Longwei Petroleum Trading Halt, Shares Plunge 72%"},"content":{"rendered":"

Longwei Petroleum Investment Holding Limited (NYSE:LPH) shares nose\u00addived<\/a> as much as 79% on Thursday and the stock was eventually halted after a harsh, bearish report made by GeoInvesting.com was published and syndicated onto popular financial portals around 9:55AM EST.<\/p>\n

Longwei Petroleum: The Most Brazen China Based U.S. Listed RTO\u00a0, a 6,815 word report that augured an inevitable trading halt and referred to the Company as a “brazen fraud” found its way onto news feeds for Google Finance and Yahoo Finance just prior to 10:00AM EST, and within minutes the twittersphere was buzzing with $LPH tweets. According to StockTwits.com, a financial communications platform founded in 2008 by entrepreneur Howard Lindon, the\u00a0message volume for $LPH tweets<\/a>\u00a0exceeded 535.71% of the rolling 7 day average. The message volume shows the week over week percentage change in message volume from the StockTwits community. Needless to say, $LPH tweets were trending with upward momentum that may have been inversely comparable to the downward spiral that Longwei Petroleum shares experienced.<\/p>\n

 <\/p>\n

\"stocktwits-lph\"<\/a>
(click to enlarge)<\/figcaption><\/figure>\n

 <\/p>\n

GeoInvesting.com has developed a reputation within the financial community for issuing detailed, short\u00adbiased reports whereby the stocks they write about will more often than not experience a substantial decrease in price per share. This reputation is certainly not unwarranted as evidenced by their track record<\/a> which includes the following stocks: Puda Coal Inc. (OTC:PUDA), Yuhe International, Inc. (PINK:YUII), Sino Clean Energy, Inc. (OTC:SCEI)), Orsus Xelent Technologies Inc. (PINK:ORSX), Lotus Pharmaceuticals, Inc. (OTC:LTUS), New Energy Systems Group (NEWN), and Subaye Inc. (PINK: SBAY).<\/p>\n

\"puda-geo\"<\/a>
(click to enlarge)<\/figcaption><\/figure>\n

 <\/p>\n

Puda Coal Inc. (OTC: PUDA), for instance, began its cataclysmic downfall shortly after GeoInvesting published its first Puda Coal report<\/a> on April 8, 2011. Although GeoInvesting’s track record suggests that the report was published while Puda Coal was trading around ~$10, in fact the stock traded as high as $13 per share during the weeks prior to the publication of GeoInvesting’s report and quickly fell to $6 before it was halted. The stock was eventually delisted and currently trades at less than $0.05 per share. Having in mind that Thursday’s GeoInvesting report describes some “eerie ties” between Longwei Petroleum Investment Holding Limited and Puta Coal Inc. ; it should have come as no surprise that Longwei Petroleum shares would get thrashed after the release of GeoInvesting’s report.<\/p>\n

At about 11:08AM, just as shares bounced back to $0.62 after hitting an intraday low of $0.46, the stock was halted<\/a>. According to the trading halt codes<\/a> outlined on NASDAQTrader.com, Longwei Petroleum’s T1 halt code means that trading was halted pending the release of material news.<\/p>\n

\"(click<\/a>
(click to enlarge)<\/figcaption><\/figure>\n

 <\/p>\n

Moreover, when the dust seemed to be settling in the aftermath of Longwei Petroleum’s bombardment \u00ad as shares tumbled to a new 52 week low and were halted intraday \u00ad multiple law firms immediately went tooth and nail at the opportunity to potentially file multi\u00admillion dollar future lawsuits and began issuing press releases announcing investigations into the Company. The following law firms announced investigations as early as 2:47PM EST on Thursday:<\/p>\n