Trader Arrested as WallStreetBets Phenomenon Finds Echo in Japan
- Prominent investor on Twitter probed for market manipulation
- Incident shows risks of being in spotlight on social media
This article is for subscribers only.
A retail investor buys shares in a small company, touts his position on social media and inspires a horde of followers to do the same. The stock price goes to the moon -- before crashing back to earth.
It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop Corp. It wasn’t even in America. And it happened in 2018.