Market manipulation
Trader pleads guilty to manipulating share prices with ‘pump and dump’ posts
Gabriel Govinda, who went by the online name “Fibonarchery”, is facing hefty fines or prison time for market manipulation and the illegal spreading of information on a trading chat site.
- Clancy Yeates
Latest
‘They lied’: Archegos duped Wall Street’s biggest banks, prosecutor says
It’s not often that the world’s biggest banks are portrayed as victims. But that is what happened when Archegos founder Bill Hwang and his chief financial officer were arrested yesterday.
- Matthew Goldstein and Lananh Nguyen
The 14 stocks targeted this year by pump-and-dumpers on social media
Over a six-week period a chat group on messaging platform Telegram wreaked havoc on the ASX, working together to push up share prices before dumping the stocks on unsuspecting traders.
- Sarah Danckert
ASIC issues stern warning about social media pump and dump posts
Shortly after the regulator’s warning a little known ASX stock saw its share price jump 7800 per cent after a flurry of promotional tweets.
- Sarah Danckert
Ex-employer of GameStop saga star ‘Roaring Kitty’ fined
Market regulators said insurer MassMutual, which employed online trader and YouTube star Keith Gill, failed to adequately supervise his activity at the heart of the “meme stock” frenzy.
- Matt Phillips
‘Roaring Kitty’ sued for securities fraud over GameStop frenzy
Keith Gill, one of the most influential voices that pushed GameStop on Reddit, has been hit with a lawsuit that accuses him of misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.
- Christian Berthelsen
- Explainer
- Short-selling
Revenge of the day traders: What’s the GameStop craze all about?
How has a chain of videogame stores become a sensation? What’s a short squeeze? And why are hedge fund managers so nervous about it all?
- Alex Druce, Emma Koehn and Dominic Powell
Original URL: https://www.smh.com.au/topic/market-manipulation-1n3k