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Traders Thread - Monday 9th August (TRAD)
Greystone
- 08 Aug 2010 08:37
mnamreh - 09 Aug 2010 10:16 - 10 of 12
.
Master RSI - 09 Aug 2010 12:26 - 11 of 12
DERAMPERS BEWARE!
From the FT.com .........
Online chatroom rumours under scrutiny
By Miles Johnson -- August 9 2010 03:02
Two UK-listed companies have launched investigations into rumours spread in online investment chatrooms, highlighting the influence of bulletin boards on the smaller end of the London stock market.
Online bulletin boards such as ADVFN and iii attract thousands of posts each day from a dedicated audience of retail investors fiercely debating their portfolios.
Nighthawk Energy, an Aim-quoted oil company, is considering launching legal action against anonymous bulletin board users whom the group claims have used multiple accounts to spread false rumours about its solvency and management team, people close to the company said.
The investigation would not target the bulletin board operators, which were assisting with the probe, and was likely to focus on the use of multiple accounts by one person who repeatedly posted claims.
Nostra Terra Oil and Gas, another Aim-quoted oil company, has also begun an investigation into bulletin board posts which made claims about its chief executive.
Under Financial Services Authority rules, the distribution of false rumour with the aim of driving a companys share price down constitutes market abuse.
The investigations come after rumours on bulletin boards have triggered flash crashes in the share prices of small-cap companies this year.
In June shares in Rockhopper, the Aim-quoted Falkland islands oil explorer popular with retail investors, fell by more than 50 per cent in an afternoon after rumours appeared on bulletin boards questioning the quality of its oil.
The company was forced to release a statement to the stock exchange saying that it knew of no reason for the fall. The shares subsequently recovered in value.
Operators of bulletin boards can use data protection laws to decline to disclose information about their users.
Londons hundreds of small natural resources companies are among the most popular shares with private investors due to rising commodity prices and the potential for quick returns.
Data from TD Waterhouse, the online stock broker, shows that Aim-quoted oil companies such as Gulf Keystone Petroleum and Petro Matad are consistently in the top 10 of shares bought and sold by its clients.
From the FT.com .........
Online chatroom rumours under scrutiny
By Miles Johnson -- August 9 2010 03:02
Two UK-listed companies have launched investigations into rumours spread in online investment chatrooms, highlighting the influence of bulletin boards on the smaller end of the London stock market.
Online bulletin boards such as ADVFN and iii attract thousands of posts each day from a dedicated audience of retail investors fiercely debating their portfolios.
Nighthawk Energy, an Aim-quoted oil company, is considering launching legal action against anonymous bulletin board users whom the group claims have used multiple accounts to spread false rumours about its solvency and management team, people close to the company said.
The investigation would not target the bulletin board operators, which were assisting with the probe, and was likely to focus on the use of multiple accounts by one person who repeatedly posted claims.
Nostra Terra Oil and Gas, another Aim-quoted oil company, has also begun an investigation into bulletin board posts which made claims about its chief executive.
Under Financial Services Authority rules, the distribution of false rumour with the aim of driving a companys share price down constitutes market abuse.
The investigations come after rumours on bulletin boards have triggered flash crashes in the share prices of small-cap companies this year.
In June shares in Rockhopper, the Aim-quoted Falkland islands oil explorer popular with retail investors, fell by more than 50 per cent in an afternoon after rumours appeared on bulletin boards questioning the quality of its oil.
The company was forced to release a statement to the stock exchange saying that it knew of no reason for the fall. The shares subsequently recovered in value.
Operators of bulletin boards can use data protection laws to decline to disclose information about their users.
Londons hundreds of small natural resources companies are among the most popular shares with private investors due to rising commodity prices and the potential for quick returns.
Data from TD Waterhouse, the online stock broker, shows that Aim-quoted oil companies such as Gulf Keystone Petroleum and Petro Matad are consistently in the top 10 of shares bought and sold by its clients.
Greystone
- 09 Aug 2010 17:03
- 12 of 12
- Page:
- 1
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