It has an effect, trolls on every board, hundred of them, worse than cydy, trying to convince people to sell, like this guy below. But there are pumpers also, someone trying to artificial spike the sp, so they can sell into that spike, which is different than someone holding long term and excited about the potential. This is short term gains from the manipulation, does it have long term effect? I would say whatever money that went into their pocket, gets deducted from the market cap. So probably small overall, but it could add up over time, depending on the size of the problem.
https://investorshub.advfn.com/boards/profile...ser=639974
Also, I’ve seen stocks hit the #1 board on iHub trade up to $20M on one trading day. People make big money and lose big money on these.