Filana Therapeutics Inc (FLNA)

[FooBarAndGrill]

$PGHL. Wow! Ran 918% during market hours. AH down 87%.
The opposite of a bear raid.

Prada
9 hours ago

So what happened? I’ll tell you….

Short sellers need only be outside of margin compliance for a fraction of a second for brokers to force automatic buy-ins. Knowing this, offshore scam operators tightly control the float of all these issuers but sometimes leave borrow available to lure in short sellers...

When short sellers bite, the scam operators wash trade a spike in the stock, then keep bid/asks moving during the halt so no unhalt price can be settled upon during regular trading hours. Then, after hours, it unhalts as they rip the price 10x+, causing brokers to force-liquidate accounts that were short. Brokers buy-in to cover the short sales as scam artists sell into the artificially high price.

This can lead to short accounts being wiped out instantly and can even lead to broker losses. The same liquidation scam playbook had been executed previously with other Nasdaq offshore scam tickers such as $ZJYL.