Private Placement announcement leads to sell offIn March 2019, Bharti announced a private placement for AAB and that stock promptly cratered. Now November 4th, Bharti announces a pp for SMC and this stock craters before he can do the issue. The market cap for SMC is below $2 million.
Not random. There is obviously a squeeze play on. Who is messing with Stan? It takes so little money to move these penny stocks even when trading at huge discounts to NAV. If Routemaster RM dumps its SMC shares then really watch out with tax selling season kicking in.
Bharti needs the pp to pay his fees. He has by far the ugliest track record with investors but F&M must be facing some sort of cash crunch.....Everything he touches goes to $0 despite a fortune spent on PR firms and flattering hack articles.