Apple (APPL) stock manipulation?
Apple Insider claims fund manager Doug Kass yesterday tweeted a rumor of a forthcoming stock split announcement at Apple's shareholder meeting in order to "clear profits."
Apple Insider claims fund manager Doug Kass yesterday tweeted a rumor of a forthcoming stock split announcement at Apple's shareholder meeting in order to "clear profits." Kass responded to earlier credit for the change in prices writing, "If you think one person can move Apple on a rumor you are in the wrong business."
One person can't move Apple on a rumor, but it only takes one person to start a rumor.
As an aside, if you're interested in how hedge fund managers manipulate markets, Apple Insider's post recounts Jim Cramer's explanation of how they do it.