Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

The high daily volume achieved by converting millions of shares that trade daily is not fooling anyone. Even penny stock investors read the financials (especially the investors with money to spend). This idea that you can jack the volume up by lowering the price via share converstion does not mean anything if the sell pressure is higher than the buy pressure. As long as the people who lended Saleen the money are cashing in their converted shares as Saleen continues to fail financially this stock will be a dog.

Add the fact and the risk that they could declare bankruptcy any minute or be dragged into bankruptcy court by anyone of a dozen creditors (including the IRS and a Ford Dealership) and buying this stock at any price is just a ridiculous risk.

A lottery ticket is 100X more likely to hit than this SLNN stock. At least with a lottery ticket you get to scratch off a ticket and get some thrill out of it. This is just a PUMP and DUMP scheme gone bad.