Can you legally give stock market signals?
For example ; You have a groupchat with let’s say 200 members and you give them a signal to buy a particular stock because you believe it will start pushing up. Then after it pushes up you believe it will start coming down so you tell them to sell. What’s the legality behind this?
- Anonymous5 months ago
I would be careful and consult a lawyer.
- WhoLv 75 months ago
If you do not receive any reward either directly or indirectly for doing it from the people you are advising then yes, and you dont need to be registered
- 5 months ago
Yes you can if you are a registered adviser
But if you are not registered adviser then you can not you only can share you experience but you can not provide legal advice.Source(s): This is in my opinion I am not 100% sure about it.
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- tiescoreLv 55 months ago
Let say a stock is 6, and your coordinated buying pushes that last trade to 8, if all else is equal when you reverse course your last sell will fill at about 6.... you've achieved nothing but created an odd bump in the historical chart...
- 5 months ago
An individual who provides investment advice must be registered as a RIA (registered investment advisor) with the SEC to provide market advice. If it’s with some friends...no problem.
- NeverLv 75 months ago
I would not pay any attention but you could do it I guess.
- R KLv 75 months ago
as long as your just giving info and don't have any inside information that no one else has there is nothing wrong with that. all kinds of people put out stock forecasts.
- hamel5Lv 75 months ago
Nothing illegal, unless you had inside, corporate information.
- SlumlordLv 75 months ago
Since your signal is based on publically available info so you are allowed to tell them whatever you want. Whether they take your advice or not is up to them.