Short And Distort
from the forget-pump-and-dump dept
Back during the boom days, the stock market scam of choice was to “pump and dump”. People would buy up some no name stock, go one a message board talking about how they had just cured cancer or something, wait for the stock to pop, and then sell. Of course, good stock news is much less believable these days, so the same folks (and some different ones) have changed strategies to the short and distort plan. They short a bunch of stocks, and then go on various message boards talking about how they have accounting problems, wait for the stock to drop, and then sell. Same thing, different directions.