Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors. In 2018, Russia banned Telegram although it reversed the prohibition two years later. The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively.
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