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Published March 9, 2026
Picard Medical told investors it was saving lives. A breakthrough artificial heart. A fresh Nasdaq debut. Big optimism. But the stock story told a very different tale.
In early September 2025, Picard went public at $4 dollars a share, with only about 5% of its stock available to trade. That tiny float sent shares soaring fast. By October 23, the stock had spiked to nearly $14, with no real news to explain it.
Behind the scenes, reports later pointed to aggressive online stock promotion. Fake advisors. Social media hype. Coordinated buying pressure.
Then the illusion shattered. On October 24, Picard’s stock collapsed about 70% in a single day, crashing back below $4. Investors were blindsided. Confidence vanished. Millions in paper value wiped out.
Now, shareholders say they were never warned about the risks baked into this IPO. And more investors are stepping forward and joining the lawsuit.