Also some shady goings on around preferred shares of a merger/spinoff
MMTLP: The Wild Saga Of The Meme Stock That’s Left Thousands Of Shareholders With Nothing
Spoiler alert: shareholders are losing their shirts. Blame a series of unusual gaffes, snafus and miscommunications.www.forbes.com
Wow. Perfect example of
a) lottery ticket thinking of a lot of “investors” who don’t do any due diligence and expect to make money by rolling the dice
b) why the sec exists, to try to stop this crap from happening
c) how the sec is often clueless and can’t react fast and doesn’t have tools to tamp down such speculation
d) it was a pump and dump, but was it an intentional one? It could easily have been clueless people banding together.