SEC Charges Eight Social Media Influencers in $100M Stock Manipulation Scheme

Re:SEC Charges Eight Social Media Influencers in $100M Stock... by anonporridge on Wednesday December 14, 2022 @01:03PM (#33987211)

It's nice to see I don't know, much less follow, any of these people.

Similar feeling to when SBF went bust. Even though I'm heavily involved in the bitcoin space, I barely knew anything about him other than vague praise of his effective altruism ideals and more pro-crypto/anti-bitcoin stance and that he ran a seedy, off shore exchange. Only afterwards did a lot of the people I actually do follow and respect resurface their old criticisms of SBF, e.g. Jack Mallers in June, https://twitter.com/jackmallers/status/1536834021354786823

It's nice to get some confirmation that the people I follow and give attention to are worthy of it. TBD if that continues.

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Re:SEC Charges Eight Social Media Influencers in $100M Stock... by recuter on Wednesday December 14, 2022 @01:34PM (#33987759)

I didn't recognize a single one either.

Quick random search returns "articles" like this: https://dailycaller.com/2021/07/30/the-success-story-of-atla...

Somehow it vaguely reminds me of old timey snake oil sales copy. Things never really change.

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Re:SEC Charges Eight Social Media Influencers in $100M Stock... by elliekelly on Wednesday December 14, 2022 @01:41PM (#33987911)

Their a/k/a names listed in the complaint were so cringe I can’t even imagine the type of person who would think these guys gave solid investment advice.

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Re:SEC Charges Eight Social Media Influencers in $100M Stock... by jermaustin1 on Wednesday December 14, 2022 @04:11PM (#33990633)

I followed Zack Morris, but I and everyone knew he was a pump and dump runner. His tagline was "The pump never dies" or something.

I tried a handful of times to short his pumps right at the rug pull, but almost every single time, I lost my position due to a short squeeze.

I ended up losing around $10k, had I been able to hold my positions (more cash in my margin account basically), they would be HUGE wins, because almost every stock he pumped went to near $0 within a few weeks/months. But the poor people who kept the squeezes alive lost so much more when the bottom fell out.

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Re:SEC Charges Eight Social Media Influencers in $100M Stock... by anonporridge on Wednesday December 14, 2022 @05:00PM (#33991228)

The market can stay irrational longer than you can stay solvent.

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