That's a very interesting article.
It's also interesting that the practice those traders were employing is deemed illegal. Putting bids in and cancelling them; it seems innocent enough on the surface.
Part of me feels that if the market can be manipulated in this way, then the market has massive structural issues that need addressing. In this sense, the market is simply not fit for purpose.
One thing is for sure, Da Vinci must have burnt some big companies or rich people with this tactic, because if it were mostly retail investors burnt, it never would have gone to court.
We see it time and time again that when individuals get punished for dodgy trading, they have usually cost a wealthy company a lot of money.
If a wealthy company costs retail investors a lot of money? Well that's just the nature of a tough market.
It's not fair and it's not right.
[/rant]
I didn't sell any XPE during the GXC (great XPE crisis) and in fact averaged down at 3.5c this morning.
I must be bonkers!
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