What We Know About VelaTel: Nothing
There are no filings and George Alvarez has gone dark.
If recent buying was on actual news/events, it would be more encouraging. Court rulings have actually been going in favor of VelaTel, which is a positive. If the Ironridge mess comes to an end and there are financials released that show significant subscribers and revenue, this would support a substantial increase in price.
Current buying seems to be the product of a social media pump, but perhaps this campaign is aware of certain successes in China. This is only pure speculation on my part. Otherwise, it would certainly seem to be a pump and dump operation.
The recent close at .0008 is very encouraging for longs, and if VFIN eventually steps aside and shorts are forced to cover, this could very well run towards a nickel. There are a lot of IFs right now, but the action with price and volume could be signaling that this company is fully operational and will make news in the coming months. Whatever the cause for action over the past few weeks, it bears watching for the near term, in my view.
