“Pump and dump” is a scam where investors aim to boost the price of the stock they’re holding by promoting it and then selling it once the price rises. They typically spread false or misleading information to create a buying frenzy that would “pump” up the price. This scheme usually targets small cap stocks.
This was one of the topics discussed during a recent Financial Executives Institute of the Philippines (Finex) forum called “The GameStop Saga: Why and How It Happened? Can It Happen… HERE?” We invited to the event a global market specialist, Anton Jose Periquet of the Bank of the Philippine Islands; Securities and Exchange Commissioner Ephyro Amatong; lawyer Roel Refran of the Philippine Stock Exchange (PSE); and Conrado Bate of COL Financial, the largest online broker in the country.
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