on 6th of July, Canaan informed SEC that they would sell 13 million shares until 6th of August and they sold successfully. Because they need cash asap.
I wonder who dares to buy after this pump and dump operation while waiting for earnings report.
"Pump and dump" (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" (sell) their overvalued shares, the price falls and investors lose their money. This is most common with small cap cryptocurrencies and very small corporations, i.e. "microcaps". source:wikipedia
I wonder who dares to buy after this pump and dump operation while waiting for earnings report.
"Pump and dump" (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" (sell) their overvalued shares, the price falls and investors lose their money. This is most common with small cap cryptocurrencies and very small corporations, i.e. "microcaps". source:wikipedia