CMG Holdings Group Inc (CMGO)

[SooS416]

Could have been MMs playing into the hype and subsequent disappointment in the settlement amount.

There was a ton of volume on the spike to .03 which MMs would have sold on the ask all the way up, those shares would need to be repurchased to close out their trades, so when news dropped that did not meet overly hyped expectations they caused the massive drop and selloff buying on the bid on the way down.

Add to that some offshore shorting, capitulaltion and so forth you get an artificial over reaction selloff