3 ms·
Umm, isn't that highly illegal? If you make a good profit and it can be traced to your rumor, I don't think the SEC finds that very funny.
by athenot 9y ago
Umm, isn't that highly illegal? If you make a good profit and it can be traced to your rumor, I don't think the SEC finds that very funny.
- jhwang5 9y agoTrue, but as you can see from SEC's stance of pump and dump schemes on altcoins, there are ways of blurring the lines of legality.
- lev99 9y agoI am also under the impression not many people get caught doing a pump and dump.
- runako 9y agoI'm not an expert at this! But it would seem a fairly straightforward way to profit without directly trafficking in securities linked to either purchaser or acquirer would be to instead use related company securities instead. Ex: rumor is Amazon will buy Target. Buy securities on a basket of retail, ex-Target, with similarities to Target.
- fatjokes 9y agoYeah, IANAL, but that sounds like a textbook pump-and-dump.
- rwc 9y agoThis is exactly what Jim Cramer did