FT商学院

How cultish social media accounts fuel trading in penny stocks

An FT investigation found dozens of privately traded shares that showed sudden surges following endorsement on Twitter

“ALERT!!!”, shouted a Twitter post on February 3 by a user called Alexander Delarge, whose profile picture is the sociopathic protagonist with a similar name from A Clockwork Orange.

The message was a bombastic plug for a little-known penny stock called MedX Holdings, a “brands and acquisitions” business looking at the emerging cannabis industry.

“Weed is hot,” the account’s 61,000 followers were told. “I love this one!”

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