Is the “Penny Stock Prophet” a scam? If yes, why?
I would love the truth, but all I seem to find it people saying its brilliant and passing off their affiliate links so they make commission.
It is a scam. James Connelly shows a neat chart on how to turn $1,000 into a million. Unfortunately he cannot show you a single person who has ever done it. The companies which are recommended are often shell companies with no cash, no assets, no operation and many times only a single officer/employee who pays himself an outrageous salary. Be also careful and read any disclaimers in small print, because these promoters are often paid tens of thousands or even hundreds of thousands of dollars to hype the stock, while the insiders sell their shares and bail out. Use Yahoo Finance to check on the background of the companies promoted and look at their financials. Here is another good site to learn more about these scams:
James Connelly Penny Stock Prophet scam review complaints video