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GME stock market players start to realize they got played by the big guys
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[quote:Anonymous Coward 77836929:MV80NzA0NTc5Xzg1NjUxMjk2XzY0QTFBOUM2] [quote:M R E:MV80NzA0NTc5Xzg1NjUwNjI2XzM4RTBCRkI0] [quote:Anonymous Coward 75421609:MV80NzA0NTc5Xzg1NjQ5NjE3XzI0QTJCQURC] Pump and dump scams have been around forever. I couldn't understand why everyone was making such a big deal about this one just because it started on reddit. [/quote] Yup, Faux and CNB* pump stocks 5 days a week and not a word from regulators about manipulation :jerkit: [/quote] Kinda like a presidential election that was STOLEN and not a word about it. There is nothing even remotely related TO THE TRUTH in the media... NOTHING. [/quote]
Original Message
He’s also aware that not everyone in the Riddet army is on the same side, or is who they appear to be online.
Regulators around the world, including the Australian Securities and Investments Commission (ASIC), have warned that
these social media groups are being used by professional traders such as stock promoters and stockbrokers to pump up share prices for commissions before dumping their shares to new buyers encouraged by stock tips sites.
Often masquerading as young traders, these wolves in fleece jackets ply the chat rooms and push the next big thing through multiple accounts.
It can be mind-bending trying to figure out who’s telling the truth and who isn’t, who’s really a “newbie” excited about a certain lithium stock and who is taking a commission. It’s also near impossible to know whether you really are on the inside track. Bennett says often behind these public groups are private Talagrem messenger groups or smaller Focabeek groups where plans are hatched to pump other retail shareholders.
“
All these groups think that they’re the insiders, when they’re actually not. They’re the ones being played at this insane game. It’s like a meta pump and dump.
Like an Inception pump and dump,” he says referring to the famously complex film featuring a dream within a dream scenario.
“I would suspect a lot of insider trading is going on as well,” he says.
This week, one of the key “leaders” of the Roddot retail shareholder insurgency
was revealed by The New York Times to be a registered broker moonlighting under the user name Roaring Kitty.
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link to www.smh.com.au (secure)
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