Papa John's Is Not First: Here Are 3 Other Stocks Rocked By Market-Moving Fake News

After Papa John’s International Inc. (NASDAQ:PZZA) became a centerpiece of fake news on Monday, the suspected incident of a “pump-and-dump” scheme is the latest in a long history of market manipulation plots that use fake news to deceive investors and algorithms. Here are three other notable cases where fake reports rocked publicly traded companies.Check out PZZA stock price here. Vinci SAIn November 2016, French construction giant Vinci SA (OTC:VCISY) saw its stock collapse by over 18% within minutes.The catalyst was a fake press release, formatted to look identical to the company’s official communications, which was sent to journalists and picked up by multiple major news agencies, as per a BBC report.The fraudulent release claimed Vinci had fired its CFO and would be restating its accounts after discovering 3.5 billion euros in hidden losses. The company issued a formal denial, and the stock recovered, but not before the hoax temporarily erased billions in market value.Avon ProductsA brazen hoax targeted Avon Products in May 2015, which is privately held now, ...Full story available on Benzinga.comWeiter zum vollständigen Artikel bei Benzinga Weiter zum vollständigen Artikel bei Benzinga