OK Rank amature trader here asking a dumm question. For every seller there is a buyer, right? So who was buying those millions of shares of a scam company that were being dumped in the morning hours of Nov 16th, 2006? I will bet that you could count the number of civilian traders buying that morning on one hand. The only buyers were the shorters covering their you no whats with the cheap shares from panic sellers who were getting what they could as the MM's drove the bid down. I feel these same "buyers" knew that these shares would have value in the future when the truth was finally revealed. As far as the PR's that were retracted......I think they were just overzealous attempts to "pump" the company up and to keep the shareholders involved in the excitement of what the company was trying to build. In hindsight and from a legal point of view they were probably reckless and therefore it was the right decision to clean the slate.
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