has noted a concerning trend of social media posts being used to coordinate 'pump and dump' activity in listed stocks
has recently observed blatant attempts to pump share prices, using posts on social media to announce a target stock, a designated time to buy and a target price or percentage gain to be reached before dumping the shares
What part of this is "may" be manipulation? "Coordinated" and "blatant" .... C'mon ASIC, nothing "may" about it.
ASIC add this handy "how to"
'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.