Recently many influencers are paid good money to promote Pump & Dump of a stock.
Pump & Dump means , artificially pump the share price by giving false statements. This is usually done by giving false statement and promoting it via paid advertising.
Recently many Instagram finfluencers did promotion of stock named "Salasar Techno Engineering LTD" . All people made Instagram reels and shorts on this same company at a same time to artificially pump the share price.
Just imagine, Abhishek Kar has 1.5 millions followers. Abhishek Kar took from the marketing agency and made a reel to pump the price. But the sad part is once the pump is over, paid advertising are stopped, the people who were pumping the price exits at higher price and finally the stock price crashes down. All innocent people who bought the stock listing Abhishek kar are stuck badly in stocks. Many people destroyed their life saving and victim of Abhishek Kar statements. There has been many people blocked by Abhishek Kar when those people made comments or tweeted about it.
See the likes on the reel , it is +155k and +6 million views. Now Abhishek Kar deleted the Reel. He made 3 Reel. He deleted all of them. Luckily I found one of them. Check this out.
He deleted this and all other reels related to "Salasar Techno Engineering LTD".
BTW he himself is loss making trader and investor. You can check by previous blog here where he caught red handed by only showing his profits. Read that blog here
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