The internet (be it
forums or
blogs) is being blamed for rumours that drove up the price of Sameer Africa shares to 40 shillings before it again dropped to half it's take off price.
But Sameer never confirmed, denied or commented on the rumors
until now.
But would you buy shares because a stranger wrote something to a blog, or chat room? And it seems far fetched that the readers of Kenyan blogs and chat rooms have enough weight & financial muscle to drive up a share price so drastically. I'm inclined to place blame with others, perhaps brokers, who simply used the 'internet' as an extra forum to play around with the share price of Sameer Africa (and who probably cashed out at 40 shillings).
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