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Anyone remember Iomega and zip drives? This same thing happened iomega stock price which was driven up by Yahoo message boards/Motley Fool. "At the close of tr

• chubot 6y ago
  Yeah I remember this article 20 years ago (!) pretty vividly. It was a 15 year old kid who made hundreds of thousands of dollars pumping up stocks on Yahoo message boards. I think somewhere in this article is where I learned that the stock market is a pretty efficient mechanism of transferfing wealth from the middle class to the rich ... https://www.nytimes.com/2001/02/25/magazine/jonathan-lebed-s-extracurricular-activities.html https://www.nytimes.com/2001/02/25/magazine/jonathan-lebed-s... -- Huh didn't realize this article was by Michael Lewis, makes sense https://www.nytimes.com/2000/09/21/business/sec-says-teenager-had-after-school-hobby-online-stock-fraud.html https://www.nytimes.com/2000/09/21/business/sec-says-teenage... https://en.wikipedia.org/wiki/Jonathan_Lebed https://en.wikipedia.org/wiki/Jonathan_Lebed -- wow he was the first minor prosecuted by the SEC!