Guy loads up on biotech company, pivots to blockchain, cashes out huge profit
The Wall Street Journal writes about Barry Honig who was behind Bioptix Diagnostics' transformation into Riot Blockchain.
Honig bought 500,000 shares of the company at less than $8 and watched the shares climb 5x after the name change. He's now sold out and shares have fallen to $14.28 from $40.
Honig has pulled similar stunts in the past by transforming a software company into a cloud computing host, and a penny stock in online gambling into cybersecurity.
Regulators are poking around but I don't see anything wrong with hopping on the hottest wave and cashing in on the hype.
