PacWest Equities, Inc. (OTCMKTS:PWEI) Is the New Awesome Penny Stocks Pump

Yesterday PacWest Equities, Inc. (OTCMKTS:PWEI) emerged as the new Awesome Penny Stocks (APS) pump job. For traders with experience with pumped penny stocks the name should be familiar.

Although APS announced PWEI as its pick around 1 a.m., most of the 474 million share volume had been generated in the first hour of trading.

There is more than one possible explanation. For one, the outfit operating APS offers a paid premium membership, and supposedly paid members get the picks before the others; and two Victory Mark’s Select Penny Stocks had announced PWEI close to the opening bell.

Victory Mark was the outfit which carried out the first PWEI pump back in October, 2012. Back then the pumpers managed to tout PWEI from $0.05 to about $0.80. While a repeat scenario is not out of the question, it’s not very likely.

Pump schemes don’t usually work too well with stocks that have already been pumped and resulted in millions in losses. Additionally, APS may have lost some of its followers after it failed to pump Xumanii International Holdings Corp (OTCMKTS:XUII) to its $1 target. Not to mention, the pumpers had promised they would retire if that effort failed.

PWEI itself, also tried to aid the pump efforts. After more than a month of silence, out of the blue, PWEI issued a press release claiming the company has secured a $50 million financing commitment.

Previous APS and Victory Mark pump jobs have provided opportunities for traders who realize those were pump jobs to make some quick profits. That maybe the motivation of a lot of yesterday’s buyers. If PWEI follows in the footsteps of previous APS pumps it could spell a come back for the notorious pumper outfit.