Could be promoters trying to manipulate the price, could be insiders, who knows? We know nothing about not only the company, but the share structure. They could have handed out billions of shares to stock promoters or insiders who dumped them when the price and volume was much higher and are now spending a small percentage of those gains to lure in newbies.
The only thing we know for sure is that no matter how big a fraud, the U.S. authorities will have no recourse, nor will any investors, because the company has no U.S. presence.
I don't know what it's going up, but unless you bought in at a penny and sold at a nickel, I think it's a suckers' game.
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