REGULATION

ASIC warns of 'pump and dump' schemes

THE Australian Securities and Investments Commission has noted a concerning trend of social media posts being used to coordinate 'pump and dump' activity in listed stocks, which may amount to market manipulation.

Staff reporter
 Shares in GameStop shot up earlier this year due to social media posts

Shares in GameStop shot up earlier this year due to social media posts

The regulator said people were using social media and online forums to "create a sense of excitement or spread false news about a company's prospects', pushing the shares up and then selling for a profit....

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