“These posts are filled with disinformation, propaganda, and nonsense. Many posters explicitly say to ignore market data contrary to their thesis,” says Rogovy.

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“Ever since the GameStop escapade, stock market message boards have been awash with short squeeze theories. These posts are filled with disinformation, propaganda, and nonsense. Many posters explicitly say to ignore market data contrary to their thesis. Other posts are based on an obsolete critique of SEC regulations from 2007 (which were extensively modified in the wake of the 2008 financial crisis). The truth is that marketwide short interest is at historically low levels. True short squeezes are rare and are often confused with ordinary speculative bubbles. Nevertheless, message board pump-and-dumps are not new. They occurred frequently as part of the 2000 internet stock bubble.”