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That's because it's a new phenomenon. We'll get used to it.
by washedup 6y ago
That's because it's a new phenomenon. We'll get used to it.
- SpicyLemonZest 6y agoImpossible pump and dump bubbles are a very old and well-trafficked phenomenon. This particular case is a bit interesting, because it appears that the pumping may be a fully distributed phenomenon - but even then, it shouldn't surprise anyone if news eventually breaks that there was some organized group behind it.
- washedup 6y agoExactly! It's coordination on a scale never seen. But yes, traditional P+D been around forever.
- BirdieNZ 6y agoIt's not pump and dump, though, it's a short squeeze. It's happened before, many times, with the most famous prior case being VW (https://en.wikipedia.org/wiki/Short_squeeze#Examples_of_short_squeezes https://en.wikipedia.org/wiki/Short_squeeze#Examples_of_shor...)
- technofiend 6y agoIf it's sincerely a new phenomenon perhaps you're right, but cynically this looks a lot like pump and dump and frankly that's been around forever.
- papreclip 6y agoWhat's new here is that the sales pitch about shorts needing to be covered has more truth to it (I think, not an expert) than the usual vague promises about a huge turnaround being right around the corner. Usually the argument that other buyers will follow you is based purely on their supposed FOMO