Ginkgo Bioworks Responds to Short Seller Report

November 28. 2021. 7 mins read

Pumping and dumping a stock is illegal. Perhaps the most entertaining – and extremely accurate – portrayal of stock promotion was the movie Boiler Room in which a bunch of BSDs fleece the middle class before finally getting taken down by the SEC. Today, pumping seems to be the cool thing to do. Meme stocks are talked about as if they’re somehow democratizing wealth when the opposite is happening. Large Twitter accounts run by people of questionable character actually brag about pumping. They’ll look for low-float stocks and then pump them “to the moon” while an army of morons does their bidding. We’re not saying this individual with 594,000 followers is pumping stocks, they’re saying it.

A self-acknowledged stock promoter
A verified Twitter account with 594,000 followers – Credit: Twitter

Fortunately, the Department of Justice has started to crack down on Twitter users who run rackets, but the cult of crypto has already spilled over into equities. People are aggressively attacking anyone who says something negative about a stock they’re holding. That behavior used to be confined to stock promoters, but we’re seeing a lot more of it lately. People do not like it when you approach investing with a critical eye. That’s why our article titled

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