Matt Levine’s Money Stuff: Stock Sniper Allegedly Pumped, Dumped

Stock snipers

Look, if someone on Twitter or Discord says that he is an expert day trader who has made millions trading penny stocks and will teach you his secrets, then I can tell you his secret. Here it is:

1. He buys penny stocks.
2. Then he goes on Twitter and Discord and tells you to buy them because they are so good and will go up.
3. You — and his other Twitter followers — buy them, which makes them go up.
4. He sells them to you at a profit.
5. Then you are stuck with them. They are not in fact good ...