A very interesting story turned out. PetMed Express shares, Inc., which I have in stock, suddenly, for no apparent reason began a steep fall for several days in a row, culminating yesterday, when stocks fell by 20 and more percent on a huge volume. There was no news until midday. At all, the company is considered fundamentally promising, constantly increasing its profits and sales, even ranked among the top IBD stocks with a high rating. So this is a fall with no news, for no reason caused everyone a lot of questions. And only in the middle of the trading session, there was news that a revelatory article was published that the founders of the company, among other things, who concealed from investors such a fact of biography as a conviction for distributing cocaine, were engaged, under the guise of selling medicines for animals, distribution of drugs containing opium, for a long time advertising on Google, thereby earning their fabulous profits and because of this, the shares grew so rapidly in price.
Right there, appeared on the Glancelaw website about the investigation of this incident and that interested owners of shares can fill out a questionnaire in order to cover their losses from investments in these shares.
Later, there was a refutation from the company itself. They claim that it was a custom-made provocation in order to support the shorts., letting them make money by artificially dropping stocks.
All in all, by the close of the session, the drop decreased significantly and was about -8%. Today at the premarket the price has risen by 2,5%.
I wonder how it will end.
Yes, why am I? It's just that I quite often receive letters from America in English about something incomprehensible, related to courts and company investigations in previous years. Now I understand what it was. That is, sometimes it turns out that you can get compensation from dishonest manipulations in the stock market., if at that time owned shares of the companies under investigation. You just need to fill out the form and send it to the specified address.
