London #FT reports on investors that lost billions on #PumpAndDump stock scheme that inflated values of little known traded entities of small US-listed #ChineseStocks that plunged in value shortly after being heavily #hyped on hyper #capitalist social media accounts.

#Geolocation metadata suggests that key market movers were based out of #Russia and #Iran, — " a trend #InvestorLink has identified in other pump and dumps, some of which are more extreme than others."

By June 17, shares of a tiny Chinese herbal medicine holding company #Regencell #Bioscience — which reported a net loss of $4.4mn in 2024 — were up almost 60,000%, giving the company a market value of about $38bn, more than US based Jefferies investment banking group and US based Walgreens combined.

The #Regencell stock has since fallen 83%. There is no suggestion or unveiled evidence proving biz insiders were directly involved in its share price moves, and Sino based #Biosciences company has not responded to requests for comment on US market share moves as $33 Billion in value disappeared last month..

https://www.ft.com/content/38c9815b-8ccc-40d5-bcbf-cfdb8b73ffa6 #BuyerBeware #WallSt #StockTrades #MarketMovers