Heads Up! The Bear Cave Nails These Pump-And-Dump Stocks: QMMM, Cuprina, Pitanium, Mint And More

Erica Kollmann

September 10, 2025

Back in August, Edwin Dorsey, author of "The Bear Cave" financial newsletter, warned about a rash of pump-and-dump stock schemes being spread through chatrooms and revolving around thinly traded China-based stocks.

It looks like his dire predictions are coming true.

QMMM stock is plunging Wednesday. Watch the price action here.

The Background

In early August, Dorsey released a report detailing the scams which operate through hundreds of groups on WhatsApp and other social media.

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Dorsey claimed that the scammers first build trust with legitimate stock tips and promise quick profits before steering victims into obscure micro-cap stocks.

The Bear Cave pointed specifically to six stocks that could be targeted by the pump-and-dump scheme in the near future:

Mint Incorporation Limited (NASDAQ:MIMI)
Epsium Enterprise Limited (NASDAQ:EPSM)
QMMM Holdings Limited (NASDAQ:QMMM)
Star Fashion Culture Holdings Limited (NASDAQ:STFS)
Fly-E Group, Inc. (NASDAQ:FLYE)
Cuprina Holdings Limited (NASDAQ:CUPR)

The Evidence

QMMM saw a massive rally on Tuesday which drove the stock up by more than 1700% on extremely heavy trading volume, according to Benzinga Pro.

Cuprina Holdings soared 400% in premarket trading on Wednesday, but had retreated to around 100% higher at the time of publication.

Epsium stock was down 60% on Wednesday afternoon, after soaring on Tuesday.

Mint shares skyrocketed just after Wednesday's opening bell, but have also since pulled back.

All of these stocks raced higher on either no news at all or insignificant press releases--more evidence of potential manipulation.

Dorsey Fights Back

The Bear Cave has launched a website, StopNasdaqChinaFraud.com, to crowdsource evidence and aid with investigations against the alleged perpetrators.

Some of the other stocks mentioned by users on the site include:

Raytech Holding Limited (NASDAQ:RAY)
Lixiang Education Holding Co., Ltd. (NASDAQ:LXEH)
Pitanium Limited (NASDAQ:PTNM)
Reitar Logtech Holdings Limited (NASDAQ:RITR)

Investors should be wary: sudden surges in little-known stocks being promoted on WhatsApp and other social media are a major red flag for pump-and-dump fraud.

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