Same shares were getting bought and sold likely by the same people. No transaction fees. Unusual volume was expected to bring attention to RELI. Was on first page of Finviz for a day. I've seen folks do this on Cryptos. Same person with multiple wallets bought and sold all day long to get people's attention with volume.
Maybe …. On a day when an actual ‘real’ press release hits with a ‘real’ deal acquired and no phony baloney letter of intent (BS)…..
50,000,000 Wash Trades and Matched Orders?
Wash trades and matched orders are a form of fictitious trading.
Wash trades are simultaneous buy and sell orders for the same number of shares and share price by the same party. There is no change in ownership and there is no financial risk to the trader. Matched orders are prearranged trades between a buyer and a seller for a set number of shares at a set price.
Wash trades and matched orders are often used in the "pump" phase of a pump and dump scheme to create the appearance of a legitimate trading volume.
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