Memes Trader's viral "secret Nasdaq takeover via memecoin" thread falls apart within hours

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A pseudonymous trader posted a wild story yesterday that racked up over 800,000 views: he claimed to have quietly bought a 37.4% "controlling stake" in a Nasdaq penny stock for $1.8 million, spread across two brokers over three weeks to avoid spiking the price. The plan, supposedly, was to tokenize the equity, pair it with a memecoin, and run a short squeeze against short-sellers who allegedly held 92.3% of the float short.

The numbers were suspiciously precise for a story with no named company attached: $4.8 million market cap, $0.12 share price, $6.2 million in debt, $380,000 in revenue. Problem is, no matching company has ever surfaced. A Community Note flagged the obvious holes, chief among them that 92.3% short interest on a 12-cent stock is basically impossible since sub-$1 stocks are extremely hard to borrow at any real scale. A 37.4% stake would also normally trigger a Schedule 13D filing with the SEC, which never appeared.

Within an hour the poster was defending himself and comparing himself to Michael Saylor. By hour two the Community Note was live. By hour three he admitted the numbers were "clearly off," then quietly walked back the memecoin part entirely, writing that there is no memecoin and he won't be doing one.

This fits a pattern. A night earlier, traders tried and failed to squeeze Hims & Hers shares using memecoins. Over the summer there was similar chatter around tokenizing GameStop, where a researcher found the vast majority of "GME" tokens on Robinhood Chain had zero connection to the actual stock.

Anyone seen this "company" named anywhere, or was it fiction from the start?

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Farmmi (FAMI) traded 720m shares as mushroom stock became a memecoin by mistake

Following up on the story we covered here: https://kingz.net/threads/traders-v...mecoin-thread-falls-apart-within-hours.21316/

The Nasdaq-listed mushroom exporter Farmmi ($FAMI) ended up trading over 720 million shares in a single session, close to 90 times its normal daily volume, after crypto traders piled in believing it was somehow tied to a memecoin. The stock spiked as much as 350% intraday before giving back a chunk of the move.

The confusion traces back to the viral thread claiming some kind of secret token connection, which fell apart within hours once people actually checked the facts. Farmmi is a real, tiny microcap mushroom trading business based in China with no disclosed link to any crypto project. That did not stop retail flow from treating the ticker like a fresh memecoin listing, buying first and asking questions never.

This is the second time in recent memory that memecoin-style trading behavior has bled directly into a Nasdaq microcap, with traders applying the same "ape first" reflex to a stock as they would to a new pump on a DEX. The volume numbers here are what stand out: 720 million shares is enormous for a company this size, and it happened almost entirely on momentum with no fundamental news to justify it.

Whether exchanges or regulators look twice at this kind of cross-market spillover is an open question. Anyone else watching how far this behavior travels next?

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Farmmi (FAMI) surges 350% on Nasdaq as the mushroom-memecoin saga keeps spreading

Update on the story we flagged earlier this week (https://kingz.net/threads/traders-v...mecoin-thread-falls-apart-within-hours.21316/), where a memecoin-driven theory about a "secret Nasdaq takeover" fell apart within hours.

The chaos has now bled straight into an actual listed stock. Farmmi (FAMI), a Chinese microcap mushroom exporter, spiked as much as 350% on Nasdaq before giving most of it back the same session. Volume was the real story here: over 720 million shares changed hands, nearly 90 times the stock's normal daily average.

There's no fundamental news out of the company explaining the move. It looks like retail attention generated by the memecoin frenzy simply found its way onto a random small-cap ticker that shares loose associations with the online chatter, and traders piled in on momentum alone before the correction hit.

This is becoming a pattern this week: memecoin communities latching onto obscure tickers, pumping them on thin liquidity, then watching the move unwind almost as fast as it built. Farmmi had basically no connection to crypto before this, which is what makes the spillover notable rather than the size of the move itself.

No word yet from the company on the volume spike or the wild swing in its share price.

Anyone tracking how many of these Nasdaq microcaps get dragged into memecoin trading before this cools off?

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