Re:SEC Charges Eight Social Media Influencers in $100M Stock...
by jermaustin1 on Wednesday December 14, 2022 @04:11PM
(#33990633)
I followed Zack Morris, but I and everyone knew he was a pump and dump runner. His tagline was "The pump never dies" or something.
I tried a handful of times to short his pumps right at the rug pull, but almost every single time, I lost my position due to a short squeeze.
I ended up losing around $10k, had I been able to hold my positions (more cash in my margin account basically), they would be HUGE wins, because almost every stock he pumped went to near $0 within a few weeks/months. But the poor people who kept the squeezes alive lost so much more when the bottom fell out.
I tried a handful of times to short his pumps right at the rug pull, but almost every single time, I lost my position due to a short squeeze.
I ended up losing around $10k, had I been able to hold my positions (more cash in my margin account basically), they would be HUGE wins, because almost every stock he pumped went to near $0 within a few weeks/months. But the poor people who kept the squeezes alive lost so much more when the bottom fell out.