Granted, GNS is not a stock I follow. But since it’s become such a prominent point of discussion on this MB, I took a quick peak at the company and it’s financials.
I will say this first: there is good reason to short this stock. It’s a foreign issue with limited disclosures, and it’s financial performance is questionable — it’s business models begs a lot of questions as well. The whole thing involving this company and what it’s trying to pull off just looks fishy, and would be very careful about coming to conclusions on special dividends and former FBI agents. This could easily be described as a publicity stunt. And micro caps can be very volatile in either direction.
I suspect what’s happening now is GNS’s stock has been so oversold for so long that all the publicity has led to a lot of speculative buying, which also leads to short covering, especially since short sellers are so in the money — why not take profits? GNS’s stock price is still below what it was in August even with this supposed naked short squeeze.
When all the publicity dies down, the stock price will head south again. Primarily because it looks like a stock that rationally would attract short sellers.
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