/biz/ - Business & Finance

Forgot to mention something interesting I saw when looking over the data for SEEL's pump and dump a couple weeks ago
>1.someone/group of someones slowly buying up sell limits PM
>2. triggers high price algorithm/fomo buys
>3. stops buying, lets the price begin to revert, triggering a panic sell
>4. buys up lower than he started
>5. repeat 2-3
>6. continues to slowly buy up until open generating positive sentiment
>6(pt.2) Pumper continues to buy into open. Price rockets because the pumper has already bought up so much of the float
>7. dumps his shares onto stocktwits and small timers fomoing in

Sometimes PM data is a good tool for figuring out the timing of P&Ds. The high (which was almost 300% the previous day's close) was clear indicator of the range at which the pumper planned to sell.