JAKARTA - Small investors in the capital market - usually referred to as retail investors - are getting irritated by the behavior of public figures who often take stock-pumping actions. Feeling affected because their portfolio was on the edge, they urged the stock exchange authorities to take firm action against these influencers.
The pressure was expressed in the form of a petition through the change.org platform. The petition, which was uploaded on Tuesday, February 2, was initiated by a user with the username Retail United Against Stock Pumping by Rukumolagi entitled "Ban Stock-Pumpers in Indonesia!"
The petition was addressed to the Financial Services Authority (OJK), the Indonesia Stock Exchange (BEI), and Trading Regulatory Agency. As of this news published, the petition had been signed by 5,000 people.
The following is the complete petition:
Lately, so many people provide stock info or stock signals that they say they buy, via telegram, Instagram, Facebook, and other social media, which are stock-pumping without clear fundamentals and analysis, with the aim of taking control of public opinion without thinking carefully to buy the shares that already owned by these Stock-Pumpers.
So many people have been harmed and these influencers might already earn hundreds of millions to maybe billions.
When retail loses, they argue that they only provide information about the shares they bought without intending to ask the public to buy the shares. But in reality, the aim is clear that they intend to push the price of the shares they have bought with the help of the public before they sell the shares and leave the public facing the stock price that immediately drops.
One of them is Belvin Tannadi with his telegram channel ILMUSAHAM.
Unfortunately, the complaints of his members who got scammed and lost have never been heard, and every member who complaints about their losses due to Belvin's actions on his telegram or Instagram channel will be automatically removed from the group so that there is no chance for them to give a warning to the members who just joined.
Let us all sign the petition with the hope that the Financial Services Authority, the Indonesian Stock Exchange, and the Trading Regulatory Agency can pay special attention to this phenomenon until finally this practice can be stopped before more and more people get scammed.
Recently, the term stock-pumping has risen again after several public figures 'show off' the action of investing in stock instruments. So what is stock-pumping?
Quoting from the investing.com page, stock-pumping is an action taken by an individual or group by inviting other people to buy or sell a stock at a certain time. This is very useful for increasing or decreasing prices quickly.
But keep in mind that not all of them are profitable, given that there are many people who buy or sell at different prices. This is of course very beneficial for people who already have lower share prices.
A number of well-known public figures or influencers also enlivened and recommended the world of the capital market, especially stocks, on social media accounts, such as Raffi Ahmad and Ari Lasso, the sons of President Joko Widodo (Jokowi) Kaesang Pangarep to Ustaz Yusuf Mansur.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
