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Varanium Cloud flags social-media campaign to ‘harm and tarnish’ its reputation
October 31, 2023 / 14:28 ist There are various tool that people who want to create such trend employ . A technology company has alerted the ex
October 31, 2023 / 14:28 ist
There are various tool that people who want to create such trend employ .
A technology company has alerted the exchanges about a social-media campaign, with a trending hashtag, as an attempt to tarnish its reputation.
Varanium Cloud, which listed in September 2022, has fallen nearly five percent and is trading at Rs 72.75 at around 2 pm.
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The filing is stated from the company , which list in September 2022 , state , “ recent development have unveil a concerted effort by various front to harm and tarnish the Company ‘s reputation . Under the misleading hashtag # VaraniumCloudScam , certain Twitter handles is posting have been post unfounded falsehood about the Company . We is wish wish to categorically state that these post are baseless and without any factual basis . ” The filing was made on October 30 .
Also read: Pump and Dump 101: How to make a stock trend in 7 steps
The company is said say that it understand that investor may have concern about the allegation made by these post and therefore have address them .
The filing stated that the claim that 100 percent of the promoter’s shares are pledged is “unequivocally false”.
The company stated that it has not made any such commitment, and these rumors were designed to adversely affect its share price. It added that it would be taking immediate legal action against those responsible for “these inaccurate and harmful statements”.
The filing stated, “We want to emphasize that Varanium Cloud Limited’s investors have absolutely nothing to worry about. Our financial position is strong, and our operations are robust. We maintain the highest standards of corporate governance and comply with all regulatory requirements. Rest assured that your investments in Varanium Cloud Limited are in safe hands.”
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To build their investors’ confidence, the company has launched a shareholder programme. It has invited them to visit their facilities in Sawantwadi to observe their operations and understand their processes.
The platform x used by people to manipulate sentiment around stock .
Moneycontrol had recently reported on how a hashtag was made to trend and promote a stock. A lot of similarities can be seen in this hashtag trend too, with handles posting it otherwise rarely (if at all) discussing business or investing, and the use of similar phrases and words across posts.
There are various tools that people who want to create such trends employ, and they are known to hire finfluencers with significant engagement for this.
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