The 62-year-old trader manipulated stock quotes on Twitter: his tweets “dropped” stocks by 16-28%. The damage amounted to $ 1.6 million

    A 62-year-old trader from Scotland in 2013 used fake Twitter accounts to post a “duck” about the authorities checking the two companies. As a result, the shares of companies fell by 16-28%, the trader bought them and later sold them, making a profit, and the damage to investors amounted to 1.6 million dollars.


    British Exchange trader James Craig in 2013 posted on Twitter accounts of Audience and Sarepta Therapeutics from fake accounts similar to well-known analytical companies. The essence of the messages was that the federal authorities began a check against companies.

    Shares of Audience Inc. fell 28%, after which Nasdaq stopped trading them. Sarepta Therapeutics shares fell 16%. Craig's goal was to buy stocks after price cuts and then sell them after the securities returned to normal levels. The US Securities and Exchange Commission estimated the damage caused by price manipulation at $ 1.6 million.

    James Craig, a 62-year-old resident of Scotland, is charged with fraud.

    Messages on social networks often changed the value of shares in the market. On May 18, 2015, American billionaire Carl Aikan raised Apple shares by 1.1%, increasing the company's value by 8.35 billion dollars. This happened thanks to a tweet with a link to an open letterinvestor Apple CEO Tim Cook. Aikan said the company's value should be close to $ 240 per paper.

    Karl Aikan

    In March 2015, Elon Musk raised his company’s shares and earned nine hundred million dollars in ten minutes by posting a tweet of one hundred and fifteen characters. In the message, Musk spoke about the new Tesla product, which is not an electric car.

    Twitter shares soared 8% in July 2015 after posting thirty-one-billion-dollar takeover information on the Bloomberg Market website. Twitter capitalization increased by two billion dollars.

    Information quickly spread on social networks. Investors believed in the reality of the news.

    A site that looked like one of Bloomberg, one of the leading financial information providers, was a fake. All links from the news page were on the real page.

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