Forbes.com columnist Gary Weiss writes Wednesday that the financial press seems to be ignoring great stories about stock scams involving small-cap stocks.
Weiss wrote, “Just today, the SEC announced administrative action against a Florida
“This and other cases, which you can see in regional newspapers almost every day, leads me to believe that pump and dump scams are alive and well.
“Yet I have not seen much in the way of press coverage of this trend. Incidentally, if it is not a trend, if for the first time in history pump-and-dump has been wiped out — and I don’t believe that for a moment — that’s also a story.”
He concluded, “Since Cuban’s venture is crapping out, I guess that leaves the job of policing microcap stocks to the financial media, and– with some notable exceptions — lately we’ve not been doing a very good job.”
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