To me this looks however like a dead-cat bounce considering the ridiculous arguments and methods used. Rehash of old arguments that nobody believes any more: missing stores, SAIC based tax issues, lie about bulk customers... using a hastily written and poorly translated chinese article. What I smell is Waldo and his shorty buddies have their back now against the wall with their millions of CCME shares short/naked short about to be forced-buy-in in a matter of days. You are talking about an armageddon. Shorts will need $50-100MM in cash to cover the 5MM+ shares within a week or so as CCME is already on RegSho Day 4. They desperately need to come up with quick cash and will not shy from any quick-and-dirty coup to save their a**. The high put volume reminds me much of what happened back in August a few days before Citron released their attack on CHBT: thousands of puts were bought. The stock indeed tanked from $15 to about $8 within weeks thereafter and shorts made tons of money. But that was in September. Do they really believe that they can repeat that act this time? When you are in a black hole, you'll do anything to get out. That's how I see it.
Here are a few recent articles about our friend Waldo:
http://www.bloomberg.com/news/2011-01-13/texas-short-seller-fights-china-fraud-in-20-billion-u-s-shares.html
http://www.bloomberg.com/news/2011-01-13/texas-short-seller-fights-china-fraud-in-20-billion-u-s-shares.html
Kona Gold Beverages, Inc. Nears Completion of Reverse Merger with New Candidate • KGKG • Aug 12, 2024 10:00 AM
Maybacks Global Entertainment and DigiTrax Entertainment Sign Agreement to Broadcast "Karaoke Cloud" on iDreamCTV • AHRO • Aug 12, 2024 8:45 AM
HealthLynked Partners with RxSpark to Enhance Medication Access and Management for Patients • HLYK • Aug 12, 2024 8:00 AM
Maybacks Global Entertainment and ZEASN Technology Private Ltd. Sign Global Licensing Agreement • AHRO • Aug 8, 2024 7:00 AM
SANUWAVE Will Host a Conference Call on August 13, 2024 at 8:30 AM (ET) to Present Q2 Financial Results • SNWV • Aug 8, 2024 6:59 AM
Kona Gold Beverage Inc. Signs Letter of Intent with Bemax, Inc. to Sell Kona Gold, LLC • BMXC • Aug 7, 2024 10:00 AM