Re:SEC Charges Eight Social Media Influencers in $100M Stock...
by adrr on Wednesday December 14, 2022 @01:24PM
(#33987559)
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 time legally.
[ Parent
| on HN ]
Re:SEC Charges Eight Social Media Influencers in $100M Stock...
by s1artibartfast on Wednesday December 14, 2022 @01:34PM
(#33987757)
I don't think you even need to disclose your positions, you just can't have positions that are contradictory to the information that you disclose.
Re:SEC Charges Eight Social Media Influencers in $100M Stock...
by gowld on Wednesday December 14, 2022 @01:26PM
(#33987605)
> is necessarily illegal to provide guidance of stock movement if you hold the stock
... unless you disclose your position?
Re:SEC Charges Eight Social Media Influencers in $100M Stock...
by dimitrios1 on Wednesday December 14, 2022 @01:41PM
(#33987915)
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...