"one of the ways to spot misinformation is to look for impossible expectations being raised, such as your suggestion Akida is the biggest technological advancement since the wheel".
You have clearly not understood my post and I suggest you read it again carefully. I am not sure if you are being disingenuous but I have not suggested anything.
A lot of the expectation you are talking about was created by resident uprampers, not by me.
You will find posters just like the resident uprampers here on every single speculative share page on HotCopper. Many come to HotCopper to find a ready source of bag holders for their trades. This is precisely what ASIC are attempting to crack down on.The incredible thing is how many gullible/vulnerable HotCopper readers fall for the upramping hook, line and sinker. When things sound too good to be true, they usually are.
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"while you're here could you please briefly explain why you consider traders bad".
Again, can you show me where I consider "traders bad"? It seems like you are projecting some of your own insecurities onto me.
Although I do not consider traders "bad", readers here should read comments traders post across social media and stockmarket forums with a grain of salt.
It is important to realise there is no guarantee uprampers/traders believe in the BRN story themselves. A good upramper/trader just has to convince everyone else to believe in the story.
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ASIC themselves are concerned about this sort of behaviour as you can see below.
It's getting much riskier for people to pump stocks online.
21-256MR ASIC warns of social media led ‘pump and dump’ campaigns
ASIC has noted a concerning trend of social media posts being used to coordinate ‘pump and dump’ activity in listed stocks, which may amount to market manipulation in breach of the Corporations Act 2001.
‘Pump and dump’ activity occurs when a person buys shares in a company and starts an organised program to seek to increase (or ‘pump’) the share price. They do this by using social media and online forums to create a sense of excitement in a stock or spread false news about the company’s prospects. They then sell (or ‘dump’) their shares and take a profit, and other shareholders suffer as the share price falls.
This information sheet (INFO 269) is for social media influencers who discuss financial products and services online. It sets out how financial services laws apply to you – it is your responsibility to ensure that any content you post complies with the law.
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