O/s share increase was the killer: It's not whether acquisition news is real or not, it's the o/s share count increase news on Jul 6 made stock price started falling. Before it was 147m, now 497m (and AS increased to 1B). You can be on pennyland if your o/s is 147m even without anything but if you are touching billion shares, then you are going to be treated shit like this.
If the deal is right, the stock price will go up for sure and big time but if the news is fake, well then then they deserve to go even under a penny.
Most 5b to 7b o/s share stocks are trading around .0006 to .0009. So they are now almost 500m (and authorized 1B), ideally, they should be around 1 to 5c at most but due to the acquisition news, it is still between 15 and 20c.
I guarantee if it turns out the acqusition is fake and even if they go current, it will be about a penny or two if not a sub penny.
So the sudden significant increase of o/s share count on Jul 6 is the main cause of this sell off, people are not dumb, they understand the math.
Now prove that the acquisition is real, go current and go up or go fu ....k yourself, lol.
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