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/biz/ - Business & Finance

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51628966 No.51628966 [Reply] [Original]

>a bunch of retards have decided that social media sentiment are good indicators for stocks
>to the point that there are APIs just for this, and many funds use them
>be grey hat
>buy/sell a set of stocks
>buy/make a bunch of fake accounts on platforms used for this
>flood them with GPT-3 hype/FUD
>profit
Why aren’t you doing this?

>> No.51628983

>>51628966

because I don't want to go to prison?

>> No.51628996

>>51628983
How is it illegal?
You are just having an opinion at scale. You are not a financial advisor and this is not financial advice.

>> No.51629038

>>51628996

Pretty sure buying and selling stocks while you peddle 10,000 bots to push sentiment in a desired direction would break some securities law.

>> No.51629108

>>51628996
7 U.S. Code § 9 - Prohibition regarding manipulation and false information

(1)Prohibition against manipulation
It shall be unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in connection with any swap, or a contract of sale of any commodity in interstate commerce, or for future delivery on or subject to the rules of any registered entity, any manipulative or deceptive device or contrivance, in contravention of such rules and regulations as the Commission shall promulgate by not later than 1 year after July 21, 2010, provided no rule or regulation promulgated by the Commission shall require any person to disclose to another person nonpublic information that may be material to the market price, rate, or level of the commodity transaction, except as necessary to make any statement made to the other person in or in connection with the transaction not misleading in any material respect.

>> No.51629121

>>51629108
Ah damn.

>> No.51629128

>>51628983
>>51629038
You don’t belong here and you need to go back. Never return, security has already boxed up your shit and they will escort you off this board immediately. Take your shit and get the fuck out, faggot.

>> No.51629132

>>51628966
>buy/make a bunch of fake accounts on platforms used for this
>false information

>> No.51629135

>>51629128

i want my fucking severance package bitch

>> No.51629150
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51629150

>>51629108

>> No.51629155

>>51628966
it doesnt work. social media sentiment is already a bullshit indicator

>> No.51629212

>>51628966
>be James Bond villain
>short airline on massive leverage
>blow up airplanes
Why aren’t you doing this?

>> No.51629252
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51629252

>>51629212
Oh God

>> No.51630007

>>51628966
sounds interesting

>> No.51630042

>>51629108
Yeah, but what Soros did with the Pound was perfectly legal, right?

>> No.51630095

>>51629108
If you're just spamming "I like the stock", how is that material information though? Obviously hard to prove that your intent wasn't to manipulate, but if it's only possible because people are scraping sentiment as an indicator rather than using something like fundamentals to inform their trades, I think it's more of a grey area.

>> No.51630412

>>51629108
>nonpublic information that may be material to the market price
That’s the kicker you have a first amendment right to make fan pages and fan groups that share opinions online.

>> No.51630444

>>51630095
Really if Elon isn’t in prison for his dogecoin bullshit, I don’t see how this is illegal.
I can see how they would use the ambiguity of the wording to completely destroy you and imprison you for life to make an example of you though.
Unless you happened to be employed at Citadel at the time. Then you’re golden.