by yellow knife Thu Nov 29, 2018 7:17 am
Thanks Pantomath
One common character of shares selected to Pump & Dump is having less number of shares in the hands of General Public,
In this case 89.81% of shares belongs to Janashakthi PLC.
Means , when the Mother company is not trading its shares on day to day basis, the players can create rumors and Pump and Dump share.
Long ago there were rumours that LOLC is going to buy Peoples Merchant Bank. (PMB).Even now 87% of its shares belongs to People's Bank Group.
Yet Nimal Perera could easily pump and dump PMB giving good return to some while burning some investors.
Another 'pump and dump' - PressReader
[You must be registered and logged in to see this link.]Aug 12, 2011 - Yet another '
pump and dump' story was unfurled following the release of quarterly results of
People's Merchant Bank (PMB), which showed advertising icon turned investor Dilith Jayaweera and corporate leader
Nimal Perera have ... The deal was concluded at Rs.21 per
share whilst Colombo
stock .
************************************
This kind of successful Pump & Dump actions echoed in retail investors mind and they also gang up with stock brokers to experiment the same.
What Che did in Cuba, Wijeweera wanted to be done in Sri Lanka.
Wijeweera failed yet gave the boost to adventurous youth creating two bubbles.
**************************************************************
Financial Literacy is taught in your own religion as well as when you read story books in your child hood.
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