Re:GameStop stock influencer Roaring Kitty may lose access t...
by HaZeust on Thursday June 06, 2024 @12:40AM
(#40593578)
If one can't influence the price of stock due to "fame" or "influence" in and of itself, doesn't this put public.com in extraordinarily hot water [1] ? What about Unusual Whales, Quiver Quant?
1 - https://news.crunchbase.com/venture/meet-public-com-the-soci...
Re:GameStop stock influencer Roaring Kitty may lose access t...
by blindriver on Thursday June 06, 2024 @12:39AM
(#40593573)
Where is the dump? Last time he held the shares for a very, very long time.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by PickledHotdog on Thursday June 06, 2024 @12:46AM
(#40593604)
How is it a pump and dump? He doesn't need anyone to do anything.
He has the position and the funds to make the play himself.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by realce on Thursday June 06, 2024 @12:42AM
(#40593585)
How does this adage describe the law? Where is the deception and fraud explicitly? Where are the non-verifable claims made? Where is the dump?
He has explained his thesis hundreds of times in public, he's following thru with that thesis, there's no surprise or rugpull.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by metabolian on Thursday June 06, 2024 @01:56AM
(#40593976)
For him to be involved in fraudulent pump-and-dump he'd have to be an insider or being paid by insiders to pump up the price. There's zero evidence of that.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by sparky_z on Thursday June 06, 2024 @02:14AM
(#40594081)
That's... not at all true. There's no insider connection required for a pump-and-dump to be considered fraud. Maybe you're confusing it with "insider trading", which is a different thing.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by BlackJack on Thursday June 06, 2024 @09:08AM
(#40596947)
In the past, he had call options that he could've sold for profit but instead he exercised them to get even more GME stock. It's literally the opposite of dumping.
The whales manipulate markets much more than anything Keith Gill has done.
Re:GameStop stock influencer Roaring Kitty may lose access t...
by voisin on Thursday June 06, 2024 @09:24AM
(#40597123)
> This is called a pump and dump scam
It isn’t a pump and dump if he isn’t lying about it to pump it up (talking about your own actual position or the fundamentals isn’t “pumping”) and if he isn’t dumping it (“diamond hands” is sort of his thing)
This is called a pump and dump scam, and is fraud. It hurts real people. It's why the regulatory framework exists, to protect naive investors from predatory ones, and ensure that misconduct doesn't overwhelm the valuable functions of the market.
An old adage used to describe the law in this context: "you can be a pig, but don't be a hog".