Classic Pump and DumpPheo sez:
>Anyone know who is buying and why????
Why to make money, of course!
The past few days have many of the signs of a classic pump and dump; thinly-traded penny stock suddenly jumps in price after no activity and no news, price initially driven by the perpetrator. Retail investors see the movement and think they're missing the train, and hop on board, driving the stock higher. Perpetrator sells to the retail investors and takes home their money. When the perpetrator leaves, the activity slows and prices and volumes drop; retail investors have once again bought high and sold low.
The only thing that's missing is a rumour of good news or insider information with forward-looking statements. Oh, wait, flip through the past half-dozen posts here - we've got that too.
Fascinating reading, here:
https://en.wikipedia.org/wiki/Pump_and_dumpCMG