Carver Bancorp’s (CARV) shares have been aggressively pumped in the days surrounding Juneteenth as investing in black businesses has been promoted on social media. The company’s fundamentals continue to deteriorate. This spike will be much like the last and will fall as quickly as it rose.
In conjunction with Juneteenth – a holiday celebrating the end of slavery in the United States – the idea of buying stock in black businesses and banking with black-owned banks has been supported and widely circulated. It should be noted that the proceeds from