The phony press release sent out this morning on PRWeb detailing Google's acquisition of Wi-Fi provider ICOA for $400 million may have been an attempt to move the company's penny stock.
The company's stock started trading this morning at $0.0001 and steadily climbed throughout the morning to $0.0005, where it peaked around 11:30 a.m. ET. Once news trickled out that the press release was a hoax, the company's stock price sharply dropped to $0.0001 again. And it has bounced between that price and $0.0002 since then.
The fake press release … Read more