As per my previous post the pumping started on 23rd may and on 24th I actually posted here on how prices were manipulated in this post 73989297 and still company making claim of pointing figure at Simply wall street article published on 25th May is very concerning in my opinion.
company talked about m&a in past and price went down since then and all thanks to huge debt they hold and not enough free cash generation & high interest rate they have to pay in my opinion. this trick of "M&A talks" is not new by penny stocks where they talk bull crape about possibility and then say it may no eventuates ! classic recent example is AVG, people bought thinking there will be takeover and company trading at huge discount to NTA but now the stock in trading halt pending capital raise announcement !
ASIC and ASX should investigate those started below price support & then pumped the stock from 23rd may to 25th may in my opinion and this type of behaviour should be investigated in detail.
below is the screenshot of old article on what happens to those involved in pump & dump. there are many such cases in the history and i won't enough space to put all here but people need to be careful.
https://www.copyright link/markets/equity-markets/pump-and-dumpers-face-jail-asic-20210923-p58u6p
Add to My Watchlist
What is My Watchlist?
