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MGT Capital: Retail Investors To Get Herded To Slaughter House

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

TheStreetSweeper almost hopes the MGT Capital Management (MGT) pump will hold. If it does, we'll tell investors all about one of the most incredibly over-hyped, useless stocks we've ever observed.

MGT stock is flying on word that the world's most controversial once-super-wealthy man who's essentially hit the skids - John McAfee - will become the company's "proposed Executive Chairman and Chief Executive Officer."

The stock is hyped by formerly super wealthy McAfee who watched his net worth of more than $100 million nose dive to about $4 million in 2009.

You see, MGT paid $300,000 cash and 4.76 million cheapo shares to take McAfee's property off his hands.

The company has going concern issues and even filed a late 10-Q ... blazing red flags that suggest the company is headed down and out.

So it's no surprise this desperate duo - McAfee and company - are promoting the heck out of McAfee's old "D-vasive" asset.

But it seems they can hardly give D-vasive away. We'll get into the miserable downloads ... and oh so much more.

Stay tuned....we're working up a full report explaining how unbelievably risky this stock is at this level.

* Important Disclosure: The owners of TheStreetSweeper hold a short position in MGT and stand to profit on any future declines in the stock price.

* Editor's Note: As a matter of policy, TheStreetSweeper prohibits members of its editorial team from taking financial positions in the companies that they cover. To contact Sonya Colberg, the author of this story, please send an email to scolberg@thestreetsweeper.org.


This article was written by Sonya Colberg for The Street Sweeper on May 17, 2016.

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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