It is the 19th of September 2019

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.

The sudden surge in the company's stock price even forced management to issue a statement confirming that Victoria's equity value is "still equal to about zero kroner"...which we assume is just a rough estimate.

“The management in Victoria Properties wants to make clear that there has been no change in Victoria Properties’ economic conditions and that no plans have been disclosed regarding the company’s future strategy,” Chief Executive Officer Rasmus Bundgaard said in the stock-exchange announcement. “The company’s equity is therefore still equal to about zero kroner.”

Victoria Properties

 

According to Bloomberg, no one could explain the sudden surge in Victoria's equity though most of the trading came from retail brokerage accounts held at NordNet AB.

Traders and analysts called by Bloomberg were unable to explain the company’s share move on Monday. Most of the trading was done by a brokerage that mainly serves retail clients, called NordNet AB. Its transactions accounted for about half of total trades.

 

Victoria’s shares had fallen for six straight calendar years before 2017, so even after January’s stunning gains, the company is still worth about 98 percent less than at its 2006 peak, just before Denmark’s property bubble burst.

 

The last time the company issued stock-exchange announcements was on Dec. 29, when majority owner Euroinvestor.com sold its entire 64.95 percent stake to three different companies, including one controlled by Victoria’s CEO.

Nefarious plot or trading algos gone wild?

==> Source: http://www.zerohedge.com/sites/default/files/images/user230519/imageroot/2017/01/24/2017.01.024%20-%20Victoria.jpg

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