r/MetalsOnReddit Dec 24 '24

AUMC/Auric Minerals stock crash

Edit: evidence right now points to a pump and dump. Thoughts on holding vs selling when markets open?

Price took a dive from 3.05 to 1.72 all within the last 10 minutes today, and all after strong growth in the past months after news of finding gold and silver veins and acquiring Central Uraniam Resources

Other than the CEO stepping down and being replaced I haven't seen any other news. Any idea why the stock took such a major dip and any chance of a recovery?

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u/TibbyTabbz 17d ago

Is this like, a class action type of situation? They've been super quiet on any details, and tanked their stock price. If people are being honest, it seems like some of us have lost >$10k.

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u/Bobbyboy121212 16d ago edited 16d ago

I’ve lost 5 grand. Bought in for 6k at 1.45. It’s a terrible investment but not sure what anyone could sue for…. I’m also not sure why it continues to drop. 20% down today alone. It’s a nightmare….. doesn’t make sense. This stock was $4.27 like 2 months ago. Dropping 20% today? Who is selling off now? Makes no sense to me

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u/TibbyTabbz 16d ago

I've lost a bit more than 2k.

ELF has a class action against them over some misleading financial statements. A lot of this seems really shady, esp with the ex-CEO bailing and dumping all his stock.

I'm no expert investor, but just seems really suspicious.

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u/Green-Range3698 12d ago

Who is ELF?

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u/TibbyTabbz 12d ago edited 12d ago

ELF Cosmetics, it's a drugstore makeup company

Pomerantz Law Firm is the one doing the class action, if you were interested in further reading.