The panic buying you described occurs often at market open with some stock that announces a nothing PR like this one did, essentially, “we canceled yesterdays share offering so we are back to where we were two days ago, nowhere, after a reverse split due to company failure”. The panic buying usually lasts an hour at most and then the stock collapses back to its original price. Not so with this stock. Money launderers likely saw this obscure foreign stock as an opportunity to lure unsuspecting investors into a pump and dump, make some money and clean their money at the same time, with less of a chance of getting noticed. The run lasted more than a day on nothing. Investigate.
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