Friday, September 25, 2009

Ridiculous Pitch of the Day: " globenewswire Beacon Equity Issues Technical Trading Overview for A123 Systems Inc" (AONE)

My first thought was "Technical trading overview? Based on over four hours of data? Good grief."
I'm not sure who their copywriter is but this advertorial via Yahoo Finance is pretty funny:

...In the report, the analyst notes:

"The Company priced 28.1 million shares, raising $378 million for its debut on the Nasdaq. The Watertown, Mass.-based firm went public above its already-increased range of $10 to $11.50 a share. In another bullish move, the size of the IPO was increased by 2.4 million shares from its earlier level of 25.7 million shares.

"AONE recently announced that it was awarded a $249 million grant from the U.S. Department of Energy's Electric Drive Vehicle Battery and Component Manufacturing Initiative. ... The grant will be used to help implement the Company's strategy for the construction of world-class lithium ion battery manufacturing facilities in the United States, with the first construction location in Livonia, Michigan."...blah, blah, blah.

Turns out they're not talking technicals, at least in the ad. The CYA starts with:
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT....
So that schmear of cream cheese is not to be trusted. Made my day.