...10 years ago
Message Boards | Coffee Shop : Can SI Members Really Manipulate Stocks?
To: Jeffrey S. Mitchell who wrote (0) 7/30/1998 2:41:00 PM
From: Jeffrey S. Mitchell Read Replies (7) 1 of 460
OK, I'll start.
I feel the SI membership absolutely has the power to move stocks. In some cases, outright, and in other cases by creating momentum. The less the price and the lower the volume, the more the effect.
Penny stocks in particular are the most vulnerable to manipulation. The lure of tripling one's money is quite seductive. This goes beyond SI. A newsletter write-up, even a paid one, can cause enough interest that it attracts a crowd to the SI thread. Nothing attracts a crowd like a crowd and sometimes people feed off each other to the point of hysteria.
Every company I've ever contacted pays attention to its SI thread. Many downplay the "chat" lines publicly, but, privately they take them seriously. A savvy IR person knows that stocks are very often an emotional play and, regardless of the veracity of what is written on SI, it's never a good thing to let one's SI thread turn negative.
SI has definitely leveled the playing field for small investors, but it has also allowed the hucksters to play to a larger audience. It always seems to be that the first to find loopholes are the unscrupulous. Eventually, people "catch on" to the games and learn to take everything in stride. I think there is still a lot of naivet‚ on SI about who and what to believe, but the gap is closing.
For SI to be successful, IMO, it must be self-policying. So far I feel SI has done a stellar job at balancing freedom-of-speech against common courtesy and decency. While it may be the internet, it's still their house and as long as SI is open and honest about their policy, they have a perfect right to do whatever they see fit to maintain it.
However, SI is not the SEC. They can't play judge and jury and determine what stocks are scams and which are legit. I personally welcome the SEC. No, I'm not advocating the SEC post on SI, just that there's plenty of good research on SI that could save them many man hours and allow them to do their job more effectively.
OK, finished. Now feel free to tell me how wrong I am (g).
- Jeff
Message 5363987
then this....
Business Wire Settles Lawsuit for Fraud and Trademark Violations
Business Wire, Dec 7, 1999
findarticles.com
...The subsequent settlement represents a benchmark event in terms of an Internet communication taking excessive liberties with false and misleading news copy.
"We are pleased with the monetary settlement that we obtained, as well as the other terms of the settlement, which prohibit defendants from engaging in such activity in the future," said Lorry Lokey, president and founder of Business Wire.
"We hope that the positive outcome of this lawsuit sends a clear message that the conscious decision to disseminate untrue information over Business Wire will not be tolerated and that serious penalties will be imposed upon the perpetrators."
The lawsuit revealed that the three defendants, Jeffrey Mitchell, William Ulrich and Janice Shell, consciously submitted a false news release to Business Wire on behalf of "Webnode."...
10 years later (current)...
Message Boards | Welcome to SI : Welcome to Silicon Investor!
From: SI Admin (Dave) 7/9/2008 1:45:48 PM
26178 of 26178
We have received the following inquiry from a reporter at CNN. If anyone is interested in being interviewed please PM me your name and email address and I will forward it.
We are trying to track down some individual investors, people with personal financial woes/stories that they would be willing to share, for example their 401K experiences in light of the flagging economy, etc. If you know of anyone who may be interested in speaking with us on this topic, please feel free to contact me at this address. Thank you so much for your help!!
Message 24742039
oh look who was on cnbc ... clem chambers ceo advfn
cnbc.com
Message Boards | Welcome to SI : The History of Silicon Investor
From: SI Admin (Dave) 7/8/2008 9:54:27 AM
1055 of 1055
SI's parent company CEO Interview yesterday - expects another leg of the market correction between now and September.
cnbc.com
Message 24737907 |
