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Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. This ability to mix the public and the private, as well as the ability to use bots to engage with users has proved to be problematic. In early 2021, a database selling phone numbers pulled from Facebook was selling numbers for $20 per lookup. Similarly, security researchers found a network of deepfake bots on the platform that were generating images of people submitted by users to create non-consensual imagery, some of which involved children. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips.
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