Rather late in the reply, as legal advice was needed. The following is a snapshot of the MGU Top 20 as at the 28th Apr 2022. An individual, who I wont bother to name is within this list. Hotcopper also operates as an IDF under ASIC Regulations, so I'll choose my words carefully. The individuals actions may also have contributed to fluctuations within the MGU share price, over a given time period.
If you go to Google and search "ASX Wolf", you will be able to make the connection. The following link will provide more.
https://insightplus.bakermckenzie.com/bm/financial-institutions_1/australia-federal-court-finds-finfluencer-to-have-carried-on-financial-service-business-without-afsl
Also those, who are, or consider themselves social media finance influencers, 'finfluencers' have also come under the radar of ASIC and the ASX. Even recommending a stock, on HC, could land you in hotwater. Hence why HC doesn't delete comments, it simply hides them for ASIC to review.
“Finfluencer conduct, whether by using social media to manipulate the market, using a platform to profit from promoting manipulation done by others, or to promote financial products you are not licensed to promote, can result in serious consequences.”
Our Legal Team provided us with this info.
https://www.claytonutz.com/insights/2022/march/asic-puts-finfluencers-on-notice
One reason, why I will never show sentiment on this forum. I will only state my position.
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