Leuz, Christian; Meyer, Steffen; Muhn, Maximilian; … - 2018
distortions created by so-called "pump-and-dump" schemes are well known, little is known about the investors in these frauds. By … investors from a major German bank, we provide evidence on the participation rate, magnitude of the investments, losses, and the … sizable losses, with nearly 6% of active investors participating in at least one "pump-and-dump" and an average loss of nearly …
