Pump and dump - cons and advantages?

I recently saw a lot of posts and advertising to join pump and dumpgroups (like pumpmycoin and some Telegramchannels). I'm not familiar with how they work in detail, but seems pretty simple: multiple people join to get an insight on the market and manipulate it as a whole. Is this ethically justified? Are there any cons for not joining? Do they really have an influence on the market? Or are they just a scam to get some fees? Looking for some thoughts on these groups...

submitted by /u/MasterJ09
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