I have to admit, this wasn't me to a tee, but I did initially believe manipulation of any kind - whether you do so to push the price up or down is illegal. My basis for this was from several friends who have been financial planners for 10+ years and two have lived off day trading for more than 15 years.
Then I had a few people tell me, "Nope, its called a "short squeeze" and totally legal. Then I had to go back and do some research on how short squeezes work. Then I found several instances where this had happened, just not nearly as public because of social media.
The small amount of research opened my eyes to the fact even though something may seem illegal, in the finance world, there's a lot of gray areas and details most people will never know about until something like this happens.
Then I had a few people tell me, "Nope, its called a "short squeeze" and totally legal. Then I had to go back and do some research on how short squeezes work. Then I found several instances where this had happened, just not nearly as public because of social media.
The small amount of research opened my eyes to the fact even though something may seem illegal, in the finance world, there's a lot of gray areas and details most people will never know about until something like this happens.