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Watch how this pump-and-dump stock was dumped. My own experience with scammers. Tips on avoiding being scammed
By Market Observer  •  November 10, 2022
Photo by Chris Liverani / Unsplash Recently, I received a telegram message about someone losing USD40,000 in a pump-and-dump stock scam. He was not the only victim. I opened up the daily price chart of 2195.HK (Unity Enterprise) to study this pump-and-dump scam in action. Daily price chart of 2195.HK (Unity Enterprise). Source: moomoo app The pump in 2195.HK started around the middle of March 2022 at the price of HKD0.30. The stock was then pumped up to a gain of 423% in the next 6 months. As the price runs up, it gets easier to make victims believe false good news about the company and induce them to join in the pump. Victims will make money initially, then they put in more money, further pumping up the price. On the fateful day(29 Sep 2022) of the dump, the stock hit an intra-day high of HKD1.26, then crashed to close down at HKD0.25 at extremely high volume. It crashed by 78.63% within a...
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By Market Observer
I have more than 15 years of navigating stock markets. Did the markets make me rich? I humbly admit I have rich experience in losing money but managed to earn back enough to not be stressed out over money today.
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