If it wasn't talked about on Reddit, the article would have said it was Facebook groups. If it wasn't Facebook groups they would have said Hotcopper is to blame. Of course these online platforms play a role in those big rallies. Most people don't buy until something has already started to go up. Also any big increase will be accompanied by profit taking. Here's where the article loses me though; there was a CR at 50c to sophisticated investors. The CR wasn't to Reddit or a Facebook group. These investors would know what the company is and what it has planned. Those investors were willing to pay 50c per share for the company. Yet the article focuses on retail investors.
I'm not hear to call journalists out or anything like that, they have a job to do as well. I do think it's a lot easier to tag a story on to that back of some other headlines like the mention of, "Meme stocks". This is to bump the popularity of the article.
On the other side of it, the share price has dropped quite dramatically. What else can you blame it on? For me it's just the way small caps are. They run hard and they pull back just as hard. Just part of the game but that story wouldn't sell newspapers would it?
IOU Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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