What Is Atlas Trading? SEC Says Founders Duped Retail Investors

The meme stock and crypto craziness that bubbled up online in recent years is facing a reckoning.

Atlas Trading — known for giving advice to small-time traders trying to make a quick buck — is the latest to come under investigation, with its founders charged by federal authorities with running a $100 million “pump and dump” scheme through social media and taking advantage of novice traders by “feeding them a steady diet of misinformation,” according to a press release from the SEC.

Authorities allege that Edward Constantinescu, or @MrZackMorris on Twitter, Perry Matlock, @PJ_Matlock and six others were involved in buying stocks, pitching them to their online followers ...