This is a weird stock
Pump and Dump (Death Spiral) stocks I get. You can time them and make money if you buy after the split and once the price bottoms. Look for volume as the company buys it's own stock in trips and you're golden. This stock? There has not been a pump (with possible exception of folks here talking RM and share buy back). There have been no dilutors on the ASK (VNDM, BMIC, VFIN, etc) signaling that the company is trying to pay off toxic debt. There is just this HUGE volume spike out of nowhere. Or is it out of nowhere?
Looking back through the daily volume prior to the spike shows that someone out there was buying. As much as 7M a day, quietly buying. This makes me wonder if this was a coordinated buy.
That is when a group of traders starts accumulating a dormant stock at .0001. Then they make huge buys with the purpose of creating a volume spike like what we saw last week - and last year. This draws attention of other investors who buy at .0002 and up. The originators of the scheme double their money and we are left holding the bag. However, most of these schemes run to at least .0004. This one barely made it to .0003. One thing is for certain, if we don't hear from the company soon it will be back to .0001...
Any Thoughts?
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