Problems at Raytech Holding Limited (RAY)
Regulators should halt RAY before U.S. investors lose millions
The Bear Cave believes the stock of Raytech Holding Limited (NASDAQ: RAY — $115 million) is being manipulated by overseas stock manipulation groups and is at risk of a near-term, severe stock collapse.
Raytech is a holding company incorporated in the British Virgin Islands, primarily does business in Hong Kong, and is “principally engaged in the sourcing and wholesaling of personal care electrical appliances for international brand owners.” Founded in 2013, the company has six employees and disclosed $10.1 million in revenue and $1 million in net income last year.
Raytech went public in May 2024. Since then, it switched auditors from WWC P.C. to Assentsure PAC in April 2025, and lost its Audit Committee Chairperson, Mr. Yiu Wing Hei, who resigned on May 19, 2025. In its most recent annual report, the company also disclosed material weaknesses in financial reporting related to “inadequate segregation of duties and a lack of sufficient accounting personnel with appropriate knowledge of U.S. GAAP and SEC reporting requirements.”
On July 1, 2025, Raytech issued 25,985,000 shares at $0.20 per share through an offering led solely by R. F. Lafferty & Co. The stock was sold, in part, to “company-directed or company-introduced investors.” Other past clients of R. F. Lafferty include Cuprina Holdings (NASDAQ: CUPR), which fell ~88% intraday on August 15, Click Holdings (NASDAQ: CLIK), which fell ~90% in a week in April, and Uni-Fuels Holdings (NASDAQ: UFG — $149 million), which has recently doubled in what appears to be another WhatsApp-led stock manipulation scheme.
Raytech closed yesterday at $2.63 per share, more than 13 times its offering price last month. The Bear Cave believes that stock is likely controlled, at least in part, by coordinated stock manipulation groups that began dumping sizable amounts of stock on retail investors yesterday.
StopNasdaqChinaFraud.com, The Bear Cave’s crowdsourced platform exposing the stock manipulation WhatsApp groups, has fourteen submissions on Raytech stock promotion starting August 6. VampireStocks, a Reddit community dedicated to exposing U.S.-listed China stock manipulation scams, also issued recent warnings about Raytech.
A closer look at the evidence yields other signs of manipulation in Raytech stock.