4 ms·
> this is a financial crime How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?
by elwell 6y ago
> this is a financial crime
How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?
- high_density 6y agowell depends on the law though... but this time, there's no 'fradulent' element, so I guess no. If there were promises of earnings, it might have been.
- syrgian 6y agoPump and dump is fraud. https://en.wikipedia.org/wiki/Pump_and_dump https://en.wikipedia.org/wiki/Pump_and_dump But the effort was distributed and hard to track and prove, so the scammers that knew what they were doing are most likely safe.
- high_density 6y agoyes agreed. it's not crime by law... but it's like using uncovered parts of the law to swindle people. Though it'll be really difficult to make a law preventing this without hurting beneficial actions.
- TheHypnotist 6y agoExcept there is a difference between a pump and dump and a short squeeze. No one is listening to the fundamentals, it doesn't matter. I think you'd be hard pressed to make that argument on either side.