Could you expand on that? I'm really curious about how these guys managed to pull this off. Is it usually a group of hedge funds washing trades or just a promoter?
Anyone with connections who's sleazy enough to do it can set up wash trades, as long as they have enough to gain.. Usually plays like this one are accompanied by a big promotion. The promo, combined with the wash trades, amps the volume. I've seen plays in which the stock goes from under 100K shares a day to hundreds of millions (in at least one case, several billions) from one session to the next.
None of it has anything to do with hedge funds.
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