pump-and-dump


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pump-and-dump

n
(Stock Exchange) the practice of buying shares, generating favourable publicity about them, especially on the internet, then selling them when the price accordingly rises
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
For example, pump-and-dump schemes are those where fraudsters disseminate false information to increase or pump up the price of the stock and then sell or dump their shares at the inflated price before investors find out the stock is worthless.
Prosecutors described the organization as a "boiler room" that relied on high-pressure sales tactics to inflate prices of shares which they or co-conspirators owned in a pump-and-dump operation pumping up prices, then dumping stock on clients.
The SEC has amended a complaint that it filed last week in a pump-and-dump scheme to charge a financial advisor it said took part in the arrangement.
"Christopher Rad's use of hackers to drive his pump-and-dump scheme illustrates a trend toward the modern mechanization of old-school scams," Fishman said.