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Nowadays, in our current world, it must be said that we have several ways to communicate on the Internet and while some people just write normally, others, on the contrary, exchange GIFs and emojis all day long.
So Ryan Cohen, the current CEO of the GameStop chain, risks losing no less than $60 million for apparently misusing the emoji language on the X platform.
GameStop's CEO is in danger because of this emoji!
Yes, that's the funny story of this weekend. For more than a decade, you have known that emojis have been an integral part of the way we communicate with our loved ones, be it in private messages or through RS like Threads or even X (formerly Twitter).
According to our colleagues at JeuxVideo who are covering this story, Ryan Cohen is currently accused of a $60 million stock market fraud, for what? After posting an emoji on X in one of his posts. And then you will ask us: “But how is this possible?”. Well, according to JV, while the latter responded to a publication by the American media CNBC, which then mentioned the difficulties of the company Bed Bath & Beyond (you should know that Ryan Cohen is one of the largest investors in this company). The), Here, its publication was perceived as a message announcing that the company's shares would rise again, simply because of the emoji used at the end…
Real stock market manipulation?
After publishing his message on the social network you can find it here Bed Beyond & Bath's stock price suddenly rose from $10.63 to $16, an increase of more than $5.3 in just a few days. But it becomes quite questionable when Ryan Cohen, who owned about 12% of the company at the time, decided to leave the company after raising $55 million.
Of course, after this affair, Bed Bath & Beyond shareholders sued the man, accusing him of knowingly manipulating the stock market with his publication “X” and urging Internet users to invest before taking the escape powder. According to the same people, the use of the emoji would have been a decisive factor in Internet users' decision and very often an emoji can sometimes hide a double message.