Investing in stocks? Dump social media, seek advice from regulated entities

Relying on social media platforms puts you at risk of falling prey to pump-and-dump schemes

Karthik Jerome
Last Updated at March 8, 2023 18:15 IST

Tech Mahindra hikes by 3.4 percent, UltraTech cement falls by 1.9 percent

The Securities and Exchange Board of India (Sebi) recently uncovered a scheme involving 31 entities who allegedly conspired to ‘pump-and-dump’ stocks. By spreading false information through YouTube channels, the manipulators were able to artificially inflate the prices of two micro-cap firms, Sadhna Broadcast and Sharpline Broadcast, only to sell their holdings at a profit once prices had risen.

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