‘We’re Robbing Fucking Idiots’: Twitter Influencers Laughed While Pumping Stocks

Glad they're being cracked down.

SEC makes it relatively painless to report pump and dump scheme and other manipulations

https://www.sec.gov/tcr

The problem, the SEC dryly notes, is that the alleged criminals (but proven imbeciles) had a tendency to discuss “their scheme over Discord voice chats that they believed were private, but were being recorded.”

Like discussing a bank robbery in front of the bank. "I tell you, Steve, the guard is not looking right now..."

Very easy to avoid this…retail investors have no business with the stock market; the vast majority of them lose money…there are billion-dollar funds with the best connections and expertise money can buy even losing billions, but yet some folks in their basement think they can do better.

Asides, this case made me remember Chamath Palihapitiya, who hyped several SPACs to retail investors and left them holding the bag.

Glad the SEC and DoJ are cracking down on this scum but when are they going after Elon Musk for blatant stock manipulation via tweets?

As always the SEC bullies the small fishes