The stock price of the original magazine company had fallen to a few cents. After being acquired by the HD boss, it skyrocketed to $0.33, an 8-fold increase.
Now, the HD boss had his eyes on GNC Health Products Company. Many people realized this was a chance to get rich. If they bought GNC stock now, they'd make a lot of money once the acquisition was completed.
So as soon as the market opened, investors started frantically buying GNC stock, causing it to surge.
It quickly rose from $0.21 to $0.36. At this point, Andy began to act, having the operators place buy orders.
Many investors saw the price soaring and realized a big buyer had appeared. The upward trend had begun, and many joined in the frenzy.
GNC had a small market cap, and Andy had already completed the shakeout phase. With less than 40% of the shares in circulation, any slight movement significantly impacted the stock price.
This made many people green with envy.
