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I think that's always the issue with any market manipulation case: how do you know it was manipulated. To be honest, I have no idea. There may be a hard mathe
by LatteLazy 6y ago
I think that's always the issue with any market manipulation case: how do you know it was manipulated.
To be honest, I have no idea.
There may be a hard mathematical test I'm unaware of. Or it might just come down to convincing the jury. In this case, I'd say that the statements on WSB and the fact the price rose 2 (3?) figures with no change in the underlying company is a pretty strong indication. But it's not a slam dunk, "anything over x% is manipulation" rule AFAIK.
Still, plenty of others are convicted of it, so either juries can be convinced or there is a mathematical rule I'm missing.
- perl4ever 6y agoIt could be that someone is manipulating the stock and WSB at the same time, and they only think they are controlling it.
- LatteLazy 6y agoThat's true, but finra will have a record of who sent the orders, so the SEC etc can trawl through the data and see. I actually think WSB likely didn't do it completely alone. Plenty of hedge funds watch WSB. RobinHood sells the data too so I'd be surprised if it was a solo effort.