Midfield Industries which is a small low quality company did an IPO around 3 months ago at a very expensive price that did not justify the fundamentals.However the stock after issue kept going up defying the laws of gravity.Not a surprise here as the Indian stock market is an IPO pump and dump heaven for small time promoters and market operators.However the period of the the “pump” was surprising and the stock had kept floating at stratospheric heights.I had earlier thought that the dumping had started but it was not so and the stock kept going up.The greater fool games in the stock market wanted to rope in as many fools as possible with this stock in the last 3 months.

However in the last 2 days the dump seems to have finally started with Midfield Industries falling by 20% or the circuit down limits.There is no apparent reason for the stock falling like a rock in the last 2 days and its seems that the market operators behind the stock pump and dump have had their fun with the pumping of the stock.The stock has fallen almost 36% in the last couple of days leading to massive losses for any naive investor deciding to ride the stock as a momentum play.