Recently, The Street.com ran an excellent piece exploring the relationship between bio-dreck Galena Biopharma Inc. (GALE) and a sleazy stock tout shop that goes under many names (DreamTeam Group, MissionIR, Quality Stocks, etc.), you can read it here.
We first ran into this crew during the SEFE promotion in the springtime of 2012. And back then an enterprising reader sent in pictures of the vacant SEFE offices. Read that piece here.
The DTG stock touting swine have removed the disclaimer about GALE from their website, but a captured image was posted on Twitter (see here) and copied below:
A BuyersStrike! reader, @FranklinForward made a great suggestion to visit DTG HQ. And so we decided to take a field trip. But to where, exactly?
On the bottom of a press release, was a poorly worded address block:
Contact: Senior Editor DreamTeamGroup (DTG) Communications 7399 North Shadeland Avenue Indianapolis, IN Phone: 317-623-3050
On the bottom of their website was this address block:
© Copyright . DTG 7399 North Shadeland Avenue Suite 123 Indianapolis, IN 46256 317.623.3050
Now a CEO as astonishingly brilliant and competent as Galena’s Mark Ahn surely would have gone to visit this top-flight firm at their headquarters in Indianapolis. He probably would have brought Galena IR head Ms. Remy Bernarda along as well for a little sitdown and perhaps a coffee.
If that is where the GALE execs would have gone to do some routine due diligence on their new IR partner, that is where, together, we will go. And so, dear readers, we are off to Indiana.
N. Shadeland runs through a somewhat dilapidated neighborhood in Indy, more comfortably a home for check cashing outfits and “We Buy Gold” shops than for a legitimate PR firm. Presented below are pictures from the two possible storefronts that match the 7399 N. Shadeland address.
The first is a vacant storefront:
This impressive piece of real estate lies between “L-Stylish” at 7409 N. Shadeland, and a health food store at 7391 N. Shadeland. There is a Dollar Tree located two storefronts over to the right at 7373 N. Shadeland.
Alternatively, it is possible that DTG is being run out of this UPS Store branch.
Either way, it is both extremely suspect and not a surprise.
And in another non-surprise, DreamTeam has in the past worked closely with a Boca Raton, FL based bucket shop, Noble Financial, which (naturally) has been a big fan of GALE. Noble has been putting out “research” on what is a really stock promotion plaything.
DreamTeamGroup (DTG) to Provide Social Media Coverage of Noble Financial Capital Markets Ninth Annual Equity Conference
Indianapolis, United States (IBwire.com – January 22, 2013) DreamTeamGroup, a consortium of unique marketing brands that utilizes one dynamic approach to connect publicly traded companies with a variety of investors, will provide the investment community with ongoing social media coverage of Noble Financial Capital Markets’ Ninth Annual Equity Conference. The conference is being held this week at the Hard Rock Hotel in Hollywood, Florida.
Bucket shop brokers in Boca and sleazy stock touts working out of a stripmall storefront. Now that is truly a Dream Team.
Seriously, you went to Indiana? How much Money do you have on the short side?
Disclose your short position, Douchbag……….!
[@Steve – If the contents didn’t make it perfectly clear, douchebag (its spelled with an “e”), had you clicked on “About” you would have seen that yes, most likely, the author is short everything discussed on the blog. It is called BuyersStrike! after all. – Editor]
Welp, I’m holding the bag. Bought it at the high -above 7, then watched them dump after cramer. Already liquidated 1/2 at major loss. Was way overexposed. Wish I saw this beforehand, more DD on my part hopefully this doesn’t happen again-I really can’t afford it…maybe it will crawl up to 5 so the paper loss isn’t as bad.
Ironically, frickin Dr. Reddy on the NSE has been doing quite well. My money would have been way better off there….people still believe.
[@Stock Man – Dr. Reddy is a higher quality company (though that is faint praise…it isn’t hard to be better than Galena. The further you stay from promoted stocks the less likely you will end up a bagholder when the insiders sell. – Editor]