Pump and damp scam for stock investment explain.
How pump and damp work? fraudster choose an easy to manipulated stock and drive it up literally with A selling to B and B to C each at a higher price, after that when the chart look nice, form trade group using social media to lure in victims to buy in further jerking up the price to ridiculous level far from its fundmental, then eventally sell out their holding..when no more people willing to buy in at a price and people start to sell even at a lost, waterfall started leaving those victims still holding the stock to get into deep loses that will never be able to recover... unfortunately such happen again and again cause many are ignorance and greedy... hope people can understand and take care of their life saving properly.
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Went through 30 years of trading ....started in my 20s and now is over half a century old.
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AssetEagle : Scammers never force anyone to buy. But they sure manipulate the victims. Humans by nature wants to believe what they want to believe. Greed is our downfall. Scammers are just delivering hearsay. Sue them? How? Hope new laws will be enacted to put all of them behind bars...not the runners but the master minds. The runners are probably locked up somewhere delivering all the mastermind claim to richness
patricklowck123 OP : That is the problem, people trade just based on hearsay and doesnt really know about the fundemental of the stock that they are told to invest well enough before putting in their hard earned money..fraudster might not struck immediately and allow fast and big gain..then request their victims to join their VIP with bigger investment, state had limited quota. Greedy people were lured in due to initial gain and eventually will lost everything in the end , some might not even knowing that they are being scam....that is sad..
AssetEagle patricklowck123 OP : Let us continue to warn the moomoo investors and on all other platforms. The reason there are scammers is because there always are gullible victims. If the number of gullible victims is reduced, then number of scammers will also reduce. But afraid this scenario is just a pipe dream.
Rover101 : I wish I seen this sooner
powerful Jellyfish_9 : I wish I would have seen these comments before buying any stock
Tommy trader powerful Jellyfish_9 : I also wished to have read this before being scammed