Agree, but company messaging needs to improve
I would suggest that the stock went up because of the B2B database acquisition and the indication of another significant deal in the works (could add $80mm in revenue by end of first year). The company also openly acknowledged on social media that CLHI was the ticker and endorsed the argument of a ridiculously low valuation relative to comparable companies. That got folks excited, rightfully so.
Fortunately, the upside volume wasn't that much (certainly relative to the past few days), so there hopefully shouldn't be much upside resistance. A lot of folks were sitting on big gains (even at the current price) and took profits too. Without an institutional investor base, it's bound to happen. That said, the current market cap is trivial, even if one applies the 10x multiplier for conservatism.
Whoever is managing the social media account obviously doesn't know how to communicate with financial markets (been proven repeatedly). That's surprising given Stephenson has a hedge fund background, but he's probably got a lot on his plate. Uncertainty and ambiguity shake confidence and result in a lower valuation. They would have been much better off just saying "we're waiting on other entities to complete their work, but the company is moving forward with a number of exciting initiatives". Even better would be a PR stating they are working with OTC Markets and other regulatory bodies to complete the change of control and list TDS. Other Synergy plays have done that recently so the blueprint was right in front of them.
On the positive side, the aggressive sell-off provided a nice opportunity to accumulate shares at very attractive prices. Remember, the story has only gotten better with the B2B deal and possibly another one that could add a lot of revenue.
