Dump The Pump Day 2024 is on Thursday, June 20, 2024: Did you participate in Dump The Pump Day?

Thursday, June 20, 2024 is Dump The Pump Day 2024. B'More Green: Thursday is Dump the Pump Day - Going Green ... annual Dump the Pump Day,

With rising fuel costs, stuffed up streets and difficulty parking in cities, Dump The Pump Day is about finding options for you to get within the vehicle and then try to avoid an over-reliance upon oil and gas during the day. Consider alternate techniques of transport, trains and buses such as buses, or at the minimum thinking about a carpool (which, though although not sticking strictly towards the letter during the day, reaches least a great gesture of belief)!

When was it ? I filled up on Tuesday.

Why is pump and dump illegal?

Pump and dumps are illegal because you are willfully attempting to manipulate the value of a security. And if you are doing this with other people as well, it's even worse because that implies it is more of a concentrated effort to do that. An example is if you and a few buddies are looking at a stock that only trades a few thousand shares a day. Between the group of you, you trade the stock so the volume is much, much higher than what it usually is. Others will notice this and think that the stock is going up by its own merits, clueless to the fact that you and your buddies are artificially driving up the price and volume. Others start buying and drive the price further based on the artificial demand you've created, and then you sell it off and the price probably tanks to where you started or less. In a sense and your buddies would be guilty of collusion and artificially manipulating the value of the security. That's why it's not fair, and understandably, that's why it's illegal. Furthermore, pump and dumps are also carried out by people that hack into others trading accounts, sell off their assets, and use the money to buy stocks involved in the pump and dump, which has the same effect of artificially driving up the price.

How long has pump and dump been around in penny stocks?

Pump & dump has been around since man started trading and will be around as long as people think there's a quick way to make money.

Stock that trade on exchanges are not usually part of "pump & dumps", they are just stocks that have less value than most. Yes it is legally to buy these stocks, at least with stock trading on exchanges you know they are filing financial reports (good or bad) with regulatory agencies, it's those penny stocks that trade Over the counter you have to worry about