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5610 Ward Road, Suite 300 Arvada, CO 80002
9200 E. Mineral Avenue Centennial, CO 80112
Phone: 303-252-0852
Website: www.walshfinancialsolutions.com
March/April 2018
Avoid Pump and Dump Stocks
Do you get email and snail mail solicitations for pump and dump stocks? These stocks go by many names, including the next hot stock, surefire investment, can’t-miss equity and more. These are penny stocks with little to no prospect of long-term gains, so be careful when approached about these investments.
Can’t Miss — Not!
The U.S. Securities and Exchange Commission (SEC) describes these stocks as pump and dump stocks. It explains that scammers connected with them often tout false and misleading claims via phone, email and social media. Often, scammers will urge potential victims to buy a stock quickly so as not to miss what they invariably describe as huge
gains. They don’t want you to miss out. Right!
Bait and Switch
Once these scammers entice enough people to buy shares of the stock, pumping up its share price, they will dump their shares at a profit. Victims are left holding often worthless stocks.
There is no legal thing such as inside information, so be careful about any sales pitch offering some.
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Advisory Services offered through Walsh Financial Solutions or Vanderbilt Advisory Services. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Walsh Financial Solutions and Vanderbilt Securities, LLC are separate and unaffiliated entities. Clearing agent: Fidelity Clearing & Custody Solutions. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office: 125 Froehlich Farm Blvd, Woodbury, NY 11797 631-845-5100
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