Last Friday, a reverse split of QED Connect Inc (PINK:QEDN) stock became effective, which automatically positioned QEDN at a new price level on the chart. The number of the company’s shares were decreased at a 1 for 5500 ratio.
The same day, QEDN started the session at $0.55 and closed at $0.50 on a volume of only 500 shares. Unlike the half-dead trading session, investors’ discussion boards exploded with speculations about what future awaits the company and the venturers who were bold enough to spend money on QEDN. On the whole, balances were tipped towards the apprehension that the stock split was made in order for the company to dilute even more.
“It is sad that the SEC continues to let con artists like Makmann continue to rob people of their money based off of this kind of deception. This latest reverse split had to be in the game plan all along,” commented an Ihub member.
On Saturday, QEDN was featured in a paid newsletter which was distributed by New Stock Idea. The third party which had spent $10 thousand on the promotion was not revealed in the disclaimer. Stimulated by the compensation, New stock Idea didn’t spare on praises on QEDN.
On Friday, QEDN announced that its acquisition target Nazz Productions received the audience favorite feature award at an international film festival. Most likely the news was published to aid the forthcoming campaign, because on second thought Nazz is still not a subsidiary of QEDN and until a factual deal happens it will remain only a speculation.
The direction, which the stock will take in the coming weeks can indicate whether iHub statements like the aforementioned one are justified, or the company actually means to make business out its numerous acquisitions.
