VFS dumping
I believe VFS was just dumped this morning. Price went from 4.84 USD to a low of 4.4 USD, a 9% drop. Volume was around 3.7M, compared to usual volume of previous days of less than 1M. After the dump, they tried to pump again, but looks like there is not much interest in buying, and it ends the day at 4.45 USD.
This shows that they could not really pump before they dump, so they just have to dump and lose the 5 USD price point which they have been holding for the past few months. Also, let's say their dump volume is 3M shares, at 4.8 USD, that is only 14.5M USD. This does not seem like a lot, unless they can consistently do this for 10 days, then 145M is quite a good amount.
I think this also shows that they are really in need of paying back the loans, and the VRE sale was not enough.
Posted Apr 3, 2024, 9:22 PM UTC