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Phaos Technology plunges 80.5% as 62% of outstanding shares trade hands
- Phaos Technology Holdings (POAS) plummeted 80.47% on May 29, dropping from $2.67 to $0.5215 in a single session.
- The crash was accompanied by an extraordinary volume spike of 10.21 million shares, representing over 62% of the company's 16.45 million total outstanding shares.
- This extreme capitulation occurred without any official corporate news, indicating a potential major liquidation or speculative unwind.
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Conclusion
Close price dropped from $2.67 (May 28) to $0.5215 (May 29) on volume of 10,208,013 shares. Total shares outstanding is 16,446,750 (ratio of volume to shares outstanding is 62.07%).