Core Viewpoint - A large-scale "pump and dump" scheme involving Chinese concept stocks has occurred in the U.S. stock market, resulting in investors losing billions of dollars in a matter of weeks [1] Group 1: Market Impact - In July, several micro-cap Chinese stocks listed on NASDAQ experienced a sudden drop of over 80% after being heavily promoted on social media [2][6] - The cumulative market value of these stocks evaporated by $3.7 billion [6] - The FBI reported a 300% increase in complaints from victims of "pump and dump" stock fraud [1] Group 2: Specific Stocks Involved - Seven micro-cap stocks that collectively experienced significant declines include Concorde International, Ostin Technology, Top KingWin, Skyline Builders, Everbright Digital, Park Ha Biological Technology, and Pheton Holdings [2][6] Group 3: Fraud Mechanism - The stocks were promoted through WhatsApp groups and social media, with no evidence indicating that the companies themselves were involved in the price manipulation [6] - Fraudsters impersonated legitimate brokers or well-known stock analysts to lure investors into these schemes [6][7] Group 4: Regulatory Oversight - InvestorLink had previously alerted the market and media about unusual online activities related to these stocks, but regulatory bodies like the SEC and NASDAQ failed to act in time [9] - Warnings about potential stock manipulation were issued weeks before significant price drops occurred, indicating a lack of timely intervention from regulators [9]
美股“割韭菜”骗局：哄抬股价后抛售，多支中概仙股闪崩，投资者损失数十亿美元