I met Steve Weiss at an investor meeting for a company he was promoting. He was touting the company in emails and his newsletters and arranged a meeting for investors of the company to meet with management. At the meeting, which I drove 3 hours to attend, Weiss was all smiles and rubbing elbows with the CEO and other guys claiming to be "investors" although they looked more like "goombahs". Weiss was telling everyone the stock was going to go through the roof and be a huge winner. Unfortunately many of us took the bait and bought more shares. Needless to say the stock collapsed.
We later found out that Steve Weiss was compensated millions of shares and cash, but only disclosed the cash and not the stock. He had been pumping and dumping his shares the entire time. Many investors lost hundreds of thousands of dollars after buying on Steve Weiss's "Strong Buy" recommendation touted on his website and EDS newsletter.
I too called Mr. Weiss several times but his voice mail was always full and he never returned my messages. Shortly thereafter he stopped promoting the company, although i still received his newsletters in my in box. I decided to follow the companies that he was recommending to see if there was a pattern of trading similar to what i experienced. Sure enough there was.
TAKE A LOOK AT THIS STOCK STEVE WEISS RECOMMENDED: VTLP
-here is the email headline i received and the date i received it:
EDS Financial Newsletter
EDS takes HOLD off and rates Vital Products, Inc (PINKSHEETS: VTLP) a strong buy as our Super Bowl Sunday super stock pick.
Sun Feb 01
The stock opened Monday Feb. 2 at. 30 (just pull up the stock chart on it at stockcharts.com and you will see). The next 6 days the stock went straight DOWN on high volume. Within 1 week of Steve Weiss of Eric, David & Sons (EDS) recommendation, the stock was trading down over 70%!!! VTLP is now LESS THAN. 01 - thats a loss of 98%!!!
ASPV was pump and dumper Steve Weiss's next "Strong Buy". Here is the headline i received in my in box:
December 21 Pinksheets: ASPV. PK Ericdavid Finance Initiates Strong Buy... Public entity. It is in our opinion that ASPV. Pk will be the premier up and coming Security...
On December 21 the stock was. 08 - THEN THE PUMPS CAME&
Steve Weiss pumped the stock relentlessly with news, emails, interviews, and conversations with gullable investors, or anyone that he could find to sucker some money out of. The volume had a nice surge the following days, but it only went DOWN. Just pull up the chart on it. Just 2 days later ASPV, a non-reporting pink sheet company, was. 03 per share and basically everyone who invested based on Steven J. Weiss's recommendation LOST ALL THEIR MONEY.
It's amazing to me that this guy is still in business, and from what I read from someone else, he is clearly still robbing, stealing, and scamming investors and companies put of stock and cash.
Anyone who ever comes across Mr. Weiss should be sure to check their pockets because the man will rob you faster than you can say "STRONG BUY"!
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