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Cybersecurity company says social media bots boosted GameStop stocks

Cybersecurity company says social media bots boosted GameStop stocks

Cybersecurity company PiiQ Media said bots on social media have been hyping GameStop and other ’meme stocks.’ It also suggested that organized foreign actors may have played a role in the Reddit-driven trading frenzy that resulted in GameStop stock prices to shoot up. However, Reddit CEO Steve Huffman told Congress that bots, or accounts with automated content, had not played a ’significant role.’

KCooper
KCooper
6Million$Mansplainer
6Million$Mansplainer 1 months

Nice precedent coming......the markets not doing the correct thing? "Foreign bots did it to undermine our democracy, turn of the trading until we compensate".

Barry MC
Barry MC 1 months

Bots and algorithms constantly try to influence markets. It doesn't matter where the VPN service the people who use them went through, that's just how the market works now. Let's not act like the hedge funds or their "independent contractors" aren't doing it, too. This is just being publicized to try to push for more regulation they can control because some groups are angry they couldn't predict the market this time and got caught with their pants down.

Morbo
Morbo 1 months

Just laying the ground work for new laws which restrict independant traders but somehow not organisations. So progressive.

Milkshake
Milkshake 1 months

Bots and "AI" stock analytic systems and trading bots that utilize unfair advantage of supercomputers, that can be afforded and maintained by millionaires and billionaires, have been a well known part of the stock market. So it's only good when the top 1% do it? Cute. Also cute parallel lane spin on Russian bots after allegations of WallstreetBets also being all white supremacists, alt-right, racists, misogynists, transphobic, etc. meme labels. Pathetic psychological damage control.

Shmee
Shmee 1 months

Directly across the street from Wall Street a direct fiber optic line allows 7 or more super computers to influence EVERY stock purchase. This has NEVER BEEN A PROBLEM FOR WALL STREET.

Morbo
Morbo 1 months

So when rich hedgefunds destroy companies making thusands unemployed by manipulating the markets so business's fail thats fine. When a bunch of autists on Reddit do it to screw same hedgefund scum and in the process save said companies and jobs, thats foreign interferance. How are people this stupid? Does anyone believe this s#$!?

Matthew
Matthew 1 months

These analysts reviewed data from social media sites not including reddit. Your story is worded with much bias.

pat
pat 1 months

Ah yes, russian bots. Classic.

Noah PaulOG
Noah PaulOG 1 months

Hillary Clinton must have had money in the shorts.

Bryan_with_a_why
Bryan_with_a_why 1 months

How many times they gonna tell the sheep it's the big bad Russian wolf before they no longer believe there's a wolf coming? And what happens if/when a real Russian wolf arrives?

Skot
Skot 1 months

Gotta throw in "foreign actors..."

R_Forde
R_Forde 1 months

Yeah it was totally not to hurt hedge funds to was just bots.

Old McBundy
Old McBundy 1 months

I would bet money that the vast majority of people who claim “foreign actors” when things don’t go to plan, can’t even point out Russia or North Korea on a map. Despite Russia being the biggest country, they couldn’t find it... I just know it

White mana matters
White mana matters 1 months

I JUST LIKE THE STOCK!!

General Tso's White House
General Tso's White House 1 months

going on tv to pump up stocks is totally not manipulation though

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