Reddit Stock Manipulation

August 1, 2024

Cyabra analyzed the fake accounts discussing Reddit's stock on X.

Cyabra detected fake accounts which distorted the value of Reddit's stock by advocating for the purchase of the stock despite its previous drop in value.

Fake accounts dominated the conversation, generating 29% of the discourse on X and utilizing a coordinated activity.

#Stocks

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Three charts showing May 2024 data: a green and red area chart of Reddit account activity peaking on 22 May, a red line chart of the company’s stock price steadily falling from 21 to 23 May, and a combined dotted blue stock-price line with a dashed red line of fake-account activity revealing inverse correlation

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