Now hopefully they'll also go after crypto influencers.
Unreal the amount of scams and rugs and fraud committed by people with any semblance of influence in crypto.
SEC charges eight social media influencers in $100M stock manipulation scheme
21–30 of 95 posts
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#22How about going after the dogecoin pump and dump guy next?
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#23I'm a noob when it comes to stock trading rules, but can someone explain how this is different than what Jim Cramer does on his show? Cramer has been exposed for knowingly giving people bad stock trading advice. Is it just that Cramer didn't do a blatantly obvious pump-and-dump like these influencers did?
[deleted]
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#24I'm a noob when it comes to stock trading rules, but can someone explain how this is different than what Jim Cramer does on his show? Cramer has been exposed for knowingly giving people bad stock trading advice. Is it just that Cramer didn't do a blatantly obvious pump-and-dump like these influencers did?
Crame gave to the world the Inverse Cramer ETF, which actually makes a lot of money.
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#25I'm a noob when it comes to stock trading rules, but can someone explain how this is different than what Jim Cramer does on his show? Cramer has been exposed for knowingly giving people bad stock trading advice. Is it just that Cramer didn't do a blatantly obvious pump-and-dump like these influencers did?
I'm guessing that kramer and everyone around him is under the radar for taking opposite trades to what he's pitching, otherwise it would be a farce. Pump and dumpers get nailed to the wall because they sell while they are telling everyone to buy. They are not providing bad financial advise, they are defrauding people.
> kramer and everyone around him is under the radar for taking opposite trades to what he's pitching
Unless disclosed, this is illegal. (EDIT: Never mind, idioms.)
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#26I'm a noob when it comes to stock trading rules, but can someone explain how this is different than what Jim Cramer does on his show? Cramer has been exposed for knowingly giving people bad stock trading advice. Is it just that Cramer didn't do a blatantly obvious pump-and-dump like these influencers did?
Crame gave to the world the Inverse Cramer ETF, which actually makes a lot of money.
> Crame gave to the world the Inverse Cramer ETF, which actually makes a lot of money.
Can you show me the returns of this inverse Cramer ETF?
As far as I can tell it hasn't been released yet, look for ticker SJIM. if this is true it makes the second part of your statement look like you just flat out made it up.
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#27I'm rarely a cheerleader for the SEC, but their work this week alone has been marvellous. Delighted to see these guys brought to book.
They jumped the gun on SBF. Should have let him testify in congress. The timing makes it look like they didn’t want him to talk. May not be the case but it’s what it looks like.
> makes it look like they didn’t want him to talk
We know what he was going to say [1].
[1] https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclus...
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#28Earlier quoted context omitted.
I'm guessing that kramer and everyone around him is under the radar for taking opposite trades to what he's pitching, otherwise it would be a farce. Pump and dumpers get nailed to the wall because they sell while they are telling everyone to buy. They are not providing bad financial advise, they are defrauding people.
> kramer and everyone around him is under the radar for taking opposite trades to what he's pitching Unless disclosed, this is illegal. (EDIT: Never mind, idioms.)
I believe kobalsky intended "under the radar" to mean "under surveillance", so as to ensure such TV personalities are not placing trades that contradict what they're pitching.
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#29The SEC has no teeth until they go after Elon. When are they going to take him to task for making materially false statements regarding Telsa's FSD ambitions?
Re: SEC charges eight social media influencers in $100M stock manipulation scheme
#30Finally, people are starting to realize that the "stock market" is a huge scam
There is nuance here you are passing by. This is a classic influence pump and dump, these sort of scams make their rounds in various shitcoins all too often. It is a good thing you are hearing about them, because they are being caught. Don't fall for the survival bias fallacy. However, a well diversified index fund is not the same thing. If it seems the same, keep your money in a savings account and pay tithe to hopefully keep the inflation monster at bay.