It was a scam -- a shell company with a large number of phones to give the appearance of a large, thriving company, but no employees. In order to appear legitimate, there must be a legitimate address and building, but not many investors visit the company.
Some stocks are illegitimate shell companies set up to scam investors by issuing press releases, and having “analysts” promote the stock and issue more worthless shares. Most exist in name only, other than as a mailing address, and on paper as a registered financial entity.
The Pink Sheets listing is ripe with many worthless companies, some of which are pure scams. There are literally hundreds of reasons why beginners should not trade penny stocks or any stock or company unable to meet the listing requirements of the major stock exchanges.
The purpose in boiler room was to show that the "company" whose stocks they were selling wasn't actually operating but appeared to be. You could call a few hundred numbers over there and they were all assigned to the fake company.
That was back in the old days when you needed actual phones with phone numbers to make spam calls. These days it's all done by computer
The phones automatically dial numbers and sent sales messages to potential clients.
Clearly all movies are 100% real.
I was watching a movie called "boiler room" and a guy had an empty building set up filled with phones. What does that mean and what was its purpose?
