Clubhouse Media Group Inc is a media and marketing company that runs content houses. It offers management, production, and deal-making services to its influencers, a management division for individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space. This company is trading in the OTC market only. CMGR is not fully reporting essential data for a potential investor. It's a typical tiny company with small market capitalization.
CMGR sales data look as follows:The speculative mania is here
As there are no reliable data due today for the company, many of that reported in 2017 last time, we expect an excellent short opportunity is here. There is no real news behind the company (and stock price rise), any excellent guidance, or breakthrough discovery so that we could accept current valuations and current price. The stock has exploded after Elon Musk's portion of tweets about Clubhouse. He was talking about the Clubhouse app for communication. The speculators thought or traded this company by mistake. As there is excellent momentum, the more algo and even bigger speculators came into the game. However, there is no relation between CMGR and Clubhouse app. As all investors will realize, we guess the stock will fall sharply as it will lose momentum.
As there is no fundamental narrative, we expect the stock will fall sharply in a few days/weeks. We saw similar scenarios in these stocks: SIGL (the same scenario with Musk), Gamestop, Koss, and other wallstreetbets's stocks they followed. This time, there is no support from wallstreetbets. The momentum from a very short term is solid, even strong, so that speculators could pull the price up. However, there is a significant probability from CMGR Board of Directors or maybe one-person-owner to offer stocks at this price to make himself a millionaire.
We expect the same way will follow.