What factors could be driving the 90.5% drop in Pheton Holdings' stock price?

The stock price of Pheton Holdings (PTHL) experienced a significant drop of 90.5% on July 29. The decline in Pheton Holdings' stock price can be attributed to several factors: 1. **Bear Cave Report**: The most significant factor contributing to the stock's plummet was a report by research firm Bear Cave, which accused overseas groups of manipulating Pheton's shares. This cautionary report led to a surge in trading volume as investors rushed to exit their positions. The company hasn't responded formally to the allegations. 2. **Market Reaction to Allegations**: The market reacted strongly to the allegations, leading to a significant drop in the stock price. Trading volume increased significantly, indicating a rush to sell positions. In summary, the drop in Pheton Holdings' stock price is primarily driven by the Bear Cave report and the market's reaction to the allegations of manipulation. |code|Ticker|Name|Date|Percentage Change|market_code| |---|---|---|---|---|---| |PTHL|PTHL.O|Pheton Holdings|20250728|6.2093|186| |PTHL|PTHL.O|Pheton Holdings|20250729|-94.6705|186|