Near Broke Company Tells Investors To Stop Buying Its Soaring Stock
An obscure Danish penny stock company called Victoria Properties has a lot of investors, and its own management team, dumbfounded after it surged nearly 1,000% in just a matter of days and for no apparent reason whatsoever. Per Bloomberg, the company invests in residential and retail real estate in Germany but a quick review of financials reveals minimal revenue, consistent cash flow burns for several years running, minimal assets and very little remaining cash.