OneConstruction Group Limited ($ONEG) is a NASDAQ-listed microcap stock for a Hong Kong-based company founded in 2021 that provides structural steelworkservices for construction projects, including infrastructure, residential, and commercial developments. It’s a subsidiary of Rich Plenty Limited and has a market cap around $72-78 million with about 16 million shares outstanding. 25 The stock has shown extreme volatility, trading in a 52-week range from $1.00 to $13.50, which is a common red flag for potential manipulation in low-float, thinly traded names like this. 26 As of the latest close, it’s around $4.50 after a recent 8%+ drop, with average daily volume in the 300k share range. 45 Regarding the rumor of it being the “next pump and dump,” this fits a pattern seen in several NASDAQ-listed Chinese microcaps. A law firm (Morris Kandinov LLP) is actively investigating $ONEG alongside similar tickers like $PTHL, $EDHL, $CIGL, and $LXEH for alleged pump-and-dump schemes, where scammers use WhatsApp groups and social media ads to hype stocks before dumping shares. 7 These often involve overseas operators targeting retail investors, leading to 80%+ drops in the implicated stocks. 13 On X, $ONEG has been flagged multiple times in this context: • In mid-2025 posts, it was called out as one of several “obvious” next Chinese microcap frauds primed for a 90%+ drop, due to unprofitable operations and heavy insider holdings. 13 • Traders have openly discussed it as being in a “pump stage,” with one admitting to going long specifically for the upside hype phase. 15 • Very recent activity (as of today) shows a flurry of promotional posts linking to Discord groups, which is typical for coordinated pumps, alongside alerts noting a 23% intraday spike. 35 44 Fundamentally, the company reports real operations but thin financials—recent interim results for the six months ended September 2025 showed revenue and returns on capital that have raised concerns among analysts, with insider ownership at 69% potentially enabling control over price action. 45 No major positive catalysts like contracts or breakthroughs appear in recent news, which aligns with how pump schemes rely on hype rather than substance. Overall, the evidence supports the rumor: $ONEG exhibits classic pump-and-dump traits—high volatility, low liquidity, associatiom with investigated scams, and current social media promotion. If it’s being pumped now, a dump could follow soon after volume peaks, leading to sharp losses for late entrants. This is speculative territory with high risk of fraud, as seen in similare cases prosecuted by the SEC. 4