Press Ventures, Inc. (OTCBB:PVEN) Suspended

Some people probably thought things couldn’t get much worse for Press Ventures, Inc. (OTCBB:PVEN) when it crashed 48.78% the first day PennyStocks.com(PS) tried to pump it. It looks like those people were wrong.

Yesterday PVEN didn’t trade at all, because the SEC suspended it. The suspension is set to end in about two weeks. At that time, PVEN will most likely resume trading on the grey market.

As mentioned in my previous articles on PVEN, it was picked up by PS on Oct. 28. PS is a promoter which can be easily linked with Awesome Penny Stocks (APS). Both newsletters were touting PacWest Equities, Inc. (OTCMKTS:PWEI) and Pacific Clean Water Technologies, Inc (OTCMKTS:PCWT).

Both of those also got suspended by the SEC, but after PCWT, APS gave up and discontinued its pumping business. Maybe the pumpers thought the SEC was only after APS and it would allow PS to continue touting stocks to naive investors.

Now that it’s clear PS is also on the commission’s radar, it will be interesting to see whether they’ll close up shop too. One way or the other, the people who bought PVEN and didn’t manage to get out before the suspension got burned. Even when PVEN resumes trading they will have to take huge losses.