A pseudonymous crypto trader claimed to have bought a controlling stake in a Nasdaq-listed penny stock for $1.8 million, with a plan to squeeze short sellers through memecoins. The figures provided – $4.8 million market cap, $0.12 share price, 92.3% short interest – were immediately debunked by a Community Note, which confirmed no such company exists. Within three hours, the trader admitted to fabricating the numbers to avoid accusations of stock manipulation. This incident follows a repeating pattern of misinformation involving crypto influencers on real stocks, with similar failed attempts on Hims & Hers and GME tokens on Robinhood Chain.
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