Why would Merchant2000 tell everyone to load up on Spenda stock right before he sold it?
It's possible that Merchant2000 engaged in what's known as a "pump and dump" scheme. In such schemes, individuals artificially inflate the price of a stock by spreading positive rumors or misleading information to attract investors, which causes the stock price to rise. Once the stock price peaks, they sell off their own shares at a profit, leaving other investors holding overvalued stock that eventually plummets.
By encouraging others to buy Spenda stock right before selling their own shares, Merchant2000 could have been attempting to drive up the price artificially, creating an opportune moment to sell at a profit. This behavior is unethical and illegal because it deceives investors and manipulates the market for personal gain.
Why would Merchant2000 tell everyone to load up on Spenda stock...
-
- There are more pages in this discussion • 869 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add SPX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.8¢ |
Change
0.001(14.3%) |
Mkt cap ! $34.59M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 1.0¢ | 0.7¢ | $98.44K | 11.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1982955 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 1899502 | 4 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| SPX (ASX) Chart |