Medical Marijuana Spawning Pump-and-Dump Stock Scams, Finra Says

Medical Marijuana Spawning Pump-and-Dump Stock Scams, Finra Says

Brent Lewin/Bloomberg

Scammers may be promoting the shares, then selling them to gullible investors in what’s called a “pump-and-dump” scheme, the Financial Industry Regulatory Authority said today. The companies are touting their growth potential as more states allow pot for medical or recreational use, Wall Street’s self-funded regulator said.