When they sold 13 Mio shares in July, they pumped the price from 1.80 up to 3.05.
When they will start buying back (5 mio shares) from 22th Sept 2020 within 12 months what will they do, pump or dump?
First breakout was completed at 1.94 (Major breakout, since IPO)
Second Break out is coming soon (next week) at around 2.43
Double bottom was formed around 1.80-1.90
Weekly doji morning star was formed
5th touch at falling wedge pattern is coming which will lead to breakout at around 2.43
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...
After a consolidation period, stock price started to go upside with a heavy volume. All leading technical indicators signal the upside move. Especially Bollinger Band is about to breakout. Sharp move to upside can be expected. Company fundamentals are improving QoQ.
There is a delisting risk because of the Class Action lawsuit which seeks to recover damages for Canaan investors under the federal securities laws. Canaan Sued Over Alleged ‘Fake’ $150 million deal between Grandshores one month before the IPO. There is a lot of uncertainty which causes the stock price go lower.
