Bear Cave sees Pheton Holdings ‘being manipulated,’ risk of ‘collapse’

The Bear Cave believes the stock of Pheton Holdings (PTHL) is “being manipulated by overseas stock manipulation groups and is at risk of a near-term, severe stock collapse,” adding that “overseas scammers have promoted Pheton stock on rumors” that Gilead Sciences (GILD) will soon acquire or partner with Pheton. However, these “unsubstantiated rumors match a familiar pattern in which overseas stock scammers promote tightly held U.S.-listed Chinese companies on the basis of spurious M&A rumors, only for them to later experience sudden intraday stock collapses, often falling 90% or more,” Bear Cave’s Edwin Dorsey tells readers of his substack blog.