Classic pump & dump (meaning, stock is manipulated by the company).
How do I know this? Seen the pattern dozens of times.
If a stock trades below $1.00 per share for 90 days, they are DELISTED from the stock exchange. Company execs will do ANYTHING (legal, illegal, questionable, whatever) to prevent the stock from staying under $1.00 per share.
Back in OCT 2021, the stock was trading under $1.00. Then, they announced a private placement deal. This is what allowed them to claim that the company was on new ground, and turning itself around. Stock ramped up huge in a short squeeze/fake pump, only to be dumped right after. Stock has been steadily burning down ever since.
At $2.00 now (from a high of $24.00), and heading back to sub-$1.00 again.
Do I know this because I watched the stock? Fuck no. Never heard of it until right now.
All I did was (a) look at the chart, (b) see the sub-$1.00 price with the big pump and dump, and (c) looked for the tell-tale announcement just before the big runup.
Somebody made a bunch of money at everyone else's expense.
And PHUN ticker, it’s actually a little bit cheaper for retail investors to invest in and nows the time bc it’s all down
PHUN is a pump & dump.
Classic pump & dump (meaning, stock is manipulated by the company).
How do I know this? Seen the pattern dozens of times.
If a stock trades below $1.00 per share for 90 days, they are DELISTED from the stock exchange. Company execs will do ANYTHING (legal, illegal, questionable, whatever) to prevent the stock from staying under $1.00 per share.
Back in OCT 2021, the stock was trading under $1.00. Then, they announced a private placement deal. This is what allowed them to claim that the company was on new ground, and turning itself around. Stock ramped up huge in a short squeeze/fake pump, only to be dumped right after. Stock has been steadily burning down ever since.
At $2.00 now (from a high of $24.00), and heading back to sub-$1.00 again.
Do I know this because I watched the stock? Fuck no. Never heard of it until right now.
All I did was (a) look at the chart, (b) see the sub-$1.00 price with the big pump and dump, and (c) looked for the tell-tale announcement just before the big runup.
Somebody made a bunch of money at everyone else's expense.
That's what a pump and dump looks like.
Classic.
Company is garbage.
Yeah I got in and have a hefty loss but I only went in like 30 or 50 shares