Hah exactly. Even after the $100 suspension and crash. It kept trading and had a few more pumps after. Though not before dilution and another RS. That company just kept doing it over and over.
And to answer your question it’s both. Small cap pumpers do look for low floats because it can move so easily. *hmny is another example before movie pass. Used to jump from $3-4 to $10-12 randomly everyone few months. I was able to get in on one.
And yes it is the nature of the beast because if everyone starts getting in on the action. All of a sudden it’s becomes past the baton.
If majority of day traders groups get in on one stock drys is what happens.
It just has to be timed. But due to float rotation the price held up longer than normal giving time for others to get in.
Because nobody wants to sell for a loss and eventually buyers kept showing up. It just keeps going. It actually hit $120 before premarket before suspension.
Who knows how long it would of kept going. SEC just didn’t like it naturally. Instead they rather have it gapped down after suspension and make everyone lose that way. Lol
Technically this concept could happen with any stock. But bigger the float the harder it is for price to sustain without falling because it requires more buyers to hold it up. Low floats have bigger spreads so price can be maintained longer as less buyers are needed to push price up.
With only 300k if a group decides to never sell below the price they bought. It wouldn’t take many buyers to manipulate the share price upwards.
Key is though you can’t hold too long. You have to keep flipping to keep it liquid. If everyone holds then you get a stock like *iqst with a 75k float and it goes nowhere.
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