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SEC charges eight social media influencers in $100M stock manipulation scheme

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Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#61

Post by dimitrios1 »

gowld wrote: post #49
adrr wrote: post #46

Earlier quoted context omitted.

No laws against incorrectly predicting the movement of securities. There are laws to prevent pump and dump of securities for profit. If Cramer was giving price predictions that benefited him without disclosing his positions, he would be violating the law. It is necessarily illegal to provide guidance of stock movement if you hold the stock. You need to say what positions your holding. Short sellers do this all the ti…

> is necessarily illegal to provide guidance of stock movement if you hold the stock ... unless you disclose your position?

I doubt Cramer personally invests at all these days. He likely goes through either a firm or a managed fund, providing even more shielding.

edit: yeah https://www.cnbc.com/2022/05/04/jim-cramer-how-he-invests-hi...

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#62

Post by Kye »

wccrawford wrote: post #38
sebmellen wrote: post #28

Earlier quoted context omitted.

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.

Yeah, I agree. "Under the radar" usually means "hidden from view" and "under a microscope" means "under heavy scrutiny". I think the poster above just got the wrong idiom.

Short for flying under the radar (outside its lower range). It's what warplanes do for real to avoid detection.

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#63

Post by STRiDEX »

I'm interested in if putting a disclaimer in your twitter bio will be used in court.

"DISCLAIMER: My tweets are NOT recommendations to enter a stock. - Ideas shared on Twitter are NOT buy or sell signals. DO NOT TRADE BASED ON SOCIAL MEDIA."

This disclaimer was in @Ultra_Calls description

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#64

Post by [deleted] »

jshaqaw wrote: post #55

Look these guys are clearly scumbags but anyone who reads anonymous twitter posts and invests on that basis without assuming everything is a pump and dump is going to lose all their money one way or another. I would guess that at least 95 percent of trades based on this crew knew full well this was a momentum pump and dump club and just hoped to ride the wave and get out before the suckers. Not tremendous pity for th…

[deleted]

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#67

Post by IshKebab »

STRiDEX wrote: post #63

I'm interested in if putting a disclaimer in your twitter bio will be used in court. "DISCLAIMER: My tweets are NOT recommendations to enter a stock. - Ideas shared on Twitter are NOT buy or sell signals. DO NOT TRADE BASED ON SOCIAL MEDIA." This disclaimer was in @Ultra_Calls description

That kind of thing generally doesn't work as far as I know. You can't just say you're not doing something to cancel out the fact that you are doing it.

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#68

Post by filoleg »

chollida1 wrote: post #26
ohgodplsno wrote: post #24

Earlier quoted context omitted.

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.

I believe the parent comment was joking about making money by consistently taking positions opposite to what Cramer recommends. That ETF doesn't really exist afaik, yeah.

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#69

Post by neilv »

jshaqaw wrote: post #55

Look these guys are clearly scumbags but anyone who reads anonymous twitter posts and invests on that basis without assuming everything is a pump and dump is going to lose all their money one way or another. I would guess that at least 95 percent of trades based on this crew knew full well this was a momentum pump and dump club and just hoped to ride the wave and get out before the suckers. Not tremendous pity for th…

> I would guess that at least 95 percent of trades based on this crew knew full well this was a momentum pump and dump club and just hoped to ride the wave and get out before the suckers.

So also send the message that people who coattail on a scheme like that will also face charges?

Re: SEC charges eight social media influencers in $100M stock manipulation scheme

#70

Post by tootie »

jshaqaw wrote: post #55

Look these guys are clearly scumbags but anyone who reads anonymous twitter posts and invests on that basis without assuming everything is a pump and dump is going to lose all their money one way or another. I would guess that at least 95 percent of trades based on this crew knew full well this was a momentum pump and dump club and just hoped to ride the wave and get out before the suckers. Not tremendous pity for th…

Ever heard of /r/wallstreetbets? People are getting eaten alive there.
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