Despite Reports Google Did Not Just Buy ICOA

alphatel writes "In an odd PRWeb snafu, a press release was issued citing sources at Google as having acquired wireless carrier ICOA for $400 million. In full-out retraction, both companies denied the deal outright. Is this a case of pre-release or simply false PR by a third party? Could such incidents be used for pump and dump schemes?" ZDNet reports that, "at midday, more than 3 billion shares (pink sheets) traded over the counter for ICOA."

Comments

Sound like the usual pink sheet scam

[aepervius]

1) somebody buy some pink sheet stocks over quite some time for a cheap price
2) spread rumor as to make the price spike.
3) profit. There is no "????".


Heck some even attempted to use spam to spread pink sheet scam, attempting to sell those as good sale.

rather implausible reports to start with

[Trepidity]

Consider ICOA has a market cap of around $800,000, Google would have to be really shit at negotiating to acquire them for $400 million.

ICOA.PK pump and dump

[Animats]

The ticker symbol is ICOA.PK. This is an operating company? The stock has been around $0.0001. Even on the Pink Sheets, companies don't usually go that low. There are 3.49 billion shares outstanding. That's a market cap of $349,000. With the frantic trading today, the price briefly went all the way up to $0.0004.

Re:ICOA.PK pump and dump

[terraformer]

Right, the stock ticker and the wireless company aren't the same, which means there are a lot of dumb people out there.