Zip Shares Slide 50% After Flagging Costs Tied to US Fraud Event
Shares of Australian payments firm Zip Co. roughly halved after the company flagged A$10.1 million ($7.1 million) in expenses related to an external fraud event in the US.
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Shares of Australian payments firm Zip Co. roughly halved after the company flagged A$10.1 million ($7.1 million) in expenses related to an external fraud event in the US.
โTo make these calls look credible, certain members, acting in concert with the operators, post false claims of profit and praise the 'expert'. This practice, known as astroturfing, creates a false impression of genuine support and induces unsuspecting investors to act on the call,โ says SEBI
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