Pump And Dump when I looked up meaning on line. The Internet is the modern "boiler room". But, the good news is according to SEC they go after the people who knowingly do this. This is not a victimless crime as many who lost much already know.
DEFINITION OF 'PUMP AND DUMP' A scheme that attempts to boost the price of a stock through recommendations based on false, misleading or greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company's stock, sell their positions after the hype has led to a higher share price. This practice is illegal based on securities law and can lead to heavy fines.
The victims of this scheme will often lose a considerable amount of their investment as the stock often falls back down after the process is complete.
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