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Jordan Belfort says GameStop's stock surge is a modified pump and dump scheme
- emteycz 6y agoNewsflash: Jordan Belfort says anything that puts him into headlines.
- jschveibinz 6y agoI’m sure this won’t be well received on this forum, but he’s kinda’ right. It’s nothing new (see Raging Bull of late 90’s), but when “some” people can convince tens of thousands of “other” people to buy or sell equities when they know it’s going to make more money for the “some” — well, that’s manipulative and looks like a pump and dump. Opinion: Everyone loves the “stick it to the man” narrative, but this thing is still all about money. And “some” people have gotten rich, and others are going to be left holding the bag. More opinion: what happens when a narrative (theory) captures the imagination of tens of thousands of people and causes them to act in a way that is not really in their best personal interest? Recent history might come to mind...