Over the course of this week and last week, I’ve seen two concerning press releases from Upexi (UPXI) and Verb Technology Company (VERB), both stating that they intend to investigate an increase in stockholders shortly before each of their reverse splits as potentially stock manipulation. This bears significant overlap with the reverse split round-up trades that revRSS features. (The claim in the press release from VERB that short positions rose by the same amount leaves a bit of room for doubt.) In light of this news, I feel compelled to respond.
Through all my time in trading reverse split round-ups. I never considered the possibility of stock manipulation. About a year ago, I knew that, in theory, any retail trader could scan every press release (and sometimes an SEC filing) in real time then buy on the day before each and every reverse split that is announced. To make this accessible to every retail trader in practice, I collected the relevant press releases into a single, simple, free-forever feed. Since then, I traded reverse split round-ups using my own feed.
But I will be trading no longer, not until the investigations show that it’s definitely not stock manipulation. I don’t know if it actually is, and I don’t believe that it actually is. But now that I’m aware that it possibly is, I will take no chances.
That said, I know my promises. I said that revRSS will be a free-forever feed. It will continue to operate, though I will no longer be using it.